December 2021 / International Group Clubs - 2022 / 23 P&I - FDD Renewals - Swedish Club / UK Defence Club Part 9
Dear All,
SWEDISH CLUB
Attached is the renewal circular of the Swedish Club who is asking for 12.5% increase in P&I premiums for 2022 due to underwriting deficit. We have been advised that the Club is going to ask for 15% rise in premiums of FDD cover with some changes to deductibles, but a circular in that respect is yet to be issued.
As usual once the group reinsurance contract is renewed, the difference compared to the previous year (whether up or down) will be reflected on the members’ agreed renewal premium unless specified otherwise.
UK DEFENCE CLUB
Attached is the renewal circular of the Club asking for 7.5% general increase in premium due to increase in costs related to disputes of IMO sulphur related issues as well as Covid-19 and general charter party disputes.
Below you can find our comparison table of Group Clubs’ general increase levels.
|
2022 / 23 |
P&I |
NOTES |
|
American |
+12.5% |
No change to deductibles |
|
Britannia |
+12.5% |
Minimum cargo deductibles to $6K crew; $18,5K cargo and $12,5K all others |
|
Gard |
0 |
Premiums need increasing but no general increase set. 5% discount on new premiums to be agreed. No change to deductibles. |
|
Japan |
+10 |
No change to deductibles |
|
London P&I |
+12.5% |
Rates and deductibles to be adjusted acc. to the risk assessment of members. |
|
North.O.E. |
+15% |
Deductibles below $50,000 by $2,500 but for crew and other people by $5,000. |
|
Shipowners |
+5% |
No change to deductibles. Group reinsurance cost will not be reflected to members. |
|
Skuld |
+10% |
No change to deductibles |
|
Standard UK |
+12.5% |
10% increase on deductibles but by minimum of $2,500 for cargo and crew and $7,500 for collision and fixed/floating objects. |
|
Standard Ireland (London Class) |
0% for mutual entries; 10% general increase for fixed premium entries |
|
|
Steamship |
+12.5% |
10% increase on deductibles which are usd 100,000 or less. |
|
Swedish |
12.5% |
No change to deductibles |
|
U.K. |
+12.5% |
No change to deductibles |
|
West.O.E. |
+15% |
Plus 15% on deductibles with a minimum of $2,500 applying. |
|
2022 / 23 |
FDD |
NOTES |
|
American |
+12.5% |
No change to deductibles |
|
Britannia |
+15% |
No change to deductibles |
|
Gard |
0 |
No change to deductibles |
|
Japan |
+10% |
No change to deductibles |
|
London P&I |
+12.5% |
Rates and deductibles to be adjusted acc. to the risk assessment of members. |
|
North.O.E. |
+7.5% |
No change to deductibles |
|
Shipowners' |
+5% |
No change to deductibles |
|
Skuld |
+10% |
No change to deductibles |
|
Standard UK |
+12.5% |
No change to deductibles |
|
Standard Ireland (London Class) |
0% for mutual entries; 10% general increase for fixed premium entries |
|
|
Steamship |
+12.5% |
No change to deductibles |
|
Swedish |
+15% |
|
|
U.K Defence |
+7.5% |
No change to deductibles |
|
West.O.E. |
+15% |
No change to deductibles |
 Swedish Club 2022 | [ ] | 405 kB |
| UK Defence 2022 | [ ] | 123 kB |