UK P&I: 2015 Reinsurance rates announced
The International Group reinsurance sub-committee announced yesterday that it had concluded terms for 2015 in respect of the excess of loss reinsurance.
The Club will formally publish its customary circulars following the board meeting at the end of January. The revised rates for the 2015 policy year are set out below and an explanation of the background to the renewal isattached
.International Group General Excess of Loss Reinsurance Contract Renewal 2015 policy yearThe International Group RI rates (per GT) including Hydra premium, Collective Overspill Cover and excess war risk P & I ($0.00725) for the year commencing 20 February 2015 are as follows:-
|DIRTY TANKERS||$0.7317||% - 8.11|
|CLEAN TANKERS||$0.3138||% - 8.11|
|DRY CARGO VESSELS||$0.4888||% - 6.05|
|PASSENGER VESSELS||$3.7791||% 0.00|
Following the decision taken for the 2014/15 policy year, the surcharge will remain at nil for 2015/16
Source 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 UK P&I Club (“The UK Club”), one of the leading shipping protection and indemnity mutual insurers, today announces its renewal results for 2019.