9th November 2022
- General increase of 10 % on all mutual premium rates for the 2023renewal.
- The standard deductible will remain unchanged at US$15,000 per event,including fees and expenses.
- Any change in the cost of the International Group reinsurance programmewill be passed on to the mutual Members.
At the recent Board meeting, the Club has considered its financial position and decidedthe renewal requirements as above. In addition, the Club circular sets out the mainhighlights:
- For the 2023 policy year, the release call is set at 20% of mutual premium,plus any outstanding instalments of mutual premium.
- The mutual premium will be payable in three instalments during the policyyear.
This Newsletter, and our information archive, can also be accessed at www.plferrari.com
P.L. FERRARI & CO S.r.l.
P.L.Ferrari – A Member of the Lockton Group of Companies This newsletter is intended solely as an overview of the marine market and does not constitute any form of advice. It is based on sources believed to be accurate at the time of printing andwe cannot be held liable for the omission of any information within the newsletter.
This Newsletter, and our information archive, can also be accessed at www.locktonplferrari.com
Lockton P.L. Ferrari & CO S.r.l.
Lockton P.L. Ferrari – A Member of the Lockton Group of Companies This newsletter is intended solely as an overview of the marine market and does not constitute any form of advice. It is based on sources believed to be accurate at the time of printing and we cannot be held liable for the omission of any information within the newsletter.
