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 is

attached

.

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:-
Tonnage Category
2015 rate per gt
% change from 2014
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
U.S. Oil Pollution Surcharge 2015

Following the decision taken for the 2014/15 policy year, the surcharge will remain at nil for 2015/16

Staff Author

Thomas Miller Group

Date14/01/2015

Tags

You may also be interested in:

The UK P&I Club, one of the leading providers of P&I insurance and other services to the international shipping community, has appointed William Beveridge as its new Chief Underwriting Officer. He joins the UK Club on completion of his current employment obligations.

Digitalisation of the transport and logistics industry is quite well advanced, and the TT Club is committed to meeting the digital needs of the industry now and in the future

Thomas Miller Specialty, a global insurance provider across a number of sectors including Marine P&I and Offshore Marine and Energy, has announced that its three year close and collaborative partnership for fixed premium P&I with AIG will end with effect from 1st January 2022

The UK P&I Club, managed by Thomas Miller, completed a very successful renewal, benefitting from the ongoing support of its Members