As has been the case now for many years, the P&I renewals for the policy year starting 20 February 2017 will be decided by individual assessments and the Members' own statistical records for the past five years with no general increase. There will be no change in standard deductibles. Skuld continues to advocate market low levels in relation to release calls.
The International Group Excess Reinsurance will be adjusted after new reinsurance rates have been agreed. A circular will be issued when decision has been taken by the International Group of P&I Clubs.
For further information, please see attached Renewal update I.