UK Club makes call for 2006

The UK P&I Club has said that it requires a further increase in premium levels and that there will be a general increase for the 2006 policy year at 12.5% of members’ premium ratings. The Club said that for 2005,“early signs make it very unlikely that the benign experience of 2003 will be repeated even if the year’s ultimate claims experience turns out to be significantly better than that of 2004. A slight improvement on 2004 is the current expectation, albeit one that could easily change with the impact of actual claims over the next six months.”