UK Defence Club Announces 0% General Increase And Decreased Premiums For Members
TheUK Defence Club
, the leading provider of FD&D (legal costs) insurance to the maritime industry, today announces a 0% general increase in premiums for the 2015 policy year and rewards to members through the launch of a Continuity Credits loyalty scheme.
Members who have been with the mutual for a minimum of one year can now receive discounts with further reductions reserved for longer periods of membership.
The UK Defence Club will reward members at three levels with premium reductions on offer in an increasing scale for members. Those with one year of membership will receive a 2.5% reduction, three year members will receive a 5% reduction and five years of membership will qualify for a 7.5% reduction in premium. Members insuring their full fleet will receive an additional discount of 1.5%
Daniel Evans, Chairman and Club Manager of the UK Defence Club, says: "As we enter our 126th year we wanted to give something back to our members. We are focused on supporting our members as well as building on our reputation as a specialist provider of FD&D insurance to the maritime industry.
"The Club weathered the increased claims environment post-2008 comfortably and is very well reserved, consequently we haven't had to impose anything like the mandatory deductibles or changes in terms required by many other clubs. So, from a position of financial strength with a 0% general increase we would now like to reward our members for their continued entries."
Continuity Credits are about rewarding our members' commitment to us and if you become a member and stay one you will also be entitled to the reward."
All Continuity Credits will apply to premiums from the 2015 policy year meaning members could benefit as soon as February next year.
- End -
For further details, please contact:
Roddi Vaughan-Thomas / Shelly Durrant - Broadgate Mainland
+44 (0) 207 726 6111
Notes to editors
UK Defence Club
The UK Defence Club provides cover to shipowners and operators for legal and other costs incurred in relation to disputes that are uninsured. The largest defence club in the world with over 128 million GRT owned tonnage plus a sizeable book of chartered business, the Club has an illustrious heritage, having been involved in many of the leading cases affecting the maritime industry over the last 126 years.
Thomas Miller Group
You may also be interested in:
The UK P&I Club ('the Club'), one of the leading providers of protection and indemnity insurance, agreed at its Board meeting on 19th November to a Mutual Premium Discount of 3 per cent on the total mutual call for the 2015 policy year.
The Club emerges from the renewal to start the new policy year with total mutual owned tonnage of 139 million gt, slightly higher than at the start of the previous policy year. Combined mutual-owned and chartered tonnage now stands at around 239 million gross tonnes.
The recent High Court judgment in the MV Arctic highlights the importance of maintaining class at all times under a bareboat charter. Read more in UK Defence Club's April Sounding