Circular del Club 1/16 – AÑO DE PÓLIZA 2016 – Acuerdos del Pool para 2016

[:es]RESUMEN

 Las tasas del reaseguro del Grupo se reducen para todas las categorías de tonelaje

 La retención individual del Club se incrementa a USD 10 millones

 La retención del Grupo en el Pool se mantiene en USD 80 millones

 Hydra ha incrementado su participación en la primera capa

 El límite de cobertura para contaminación por hidrocarburos se fija en USD 1.000 millones para el año de póliza 2016

A LOS MIEMBROS

Muy Sres. Nuestros:

AÑO DE PÓLIZA 2016

Acuerdos del Pool para 2016

Para el año de póliza 2016 la retención del Club se incrementará a USD 10 millones. La retención del Grupo en el Pool se mantendrá sin cambios en USD 80 millones y seguirá estando asegurada por la cautiva del Grupo, Hydra, y pre-financiada mediante las contribuciones de primas de cada club. Esta prima se incluye en las tasas de reaseguro.

Acuerdos de reaseguro

Para 2016 la Participación de Hydra en la Primera Capa del contrato principal es de 75% de USD 20 millones en exceso de USD 80 millones, 60% de USD 20 millones en exceso de USD 100 millones y 30% de USD 460 millones en exceso de USD 120 millones.

El resultado de las negociaciones de renovación y reestructuración del programa es una reducción en el coste del reaseguro para todas las categorías según se indica a continuación.

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OUTLINE

• Group reinsurance rates reduced for all tonnage categories

• Individual Club retention to increase to $10 million

• The Group Pool retention to remain at $80 million

• Hydra has increased its participation on the first layer

• Oil pollution cover limit set at $1 billion for the 2016 policy year

1/16 FEBRUARY 2016

TO THE MEMBERS

2016 POLICY YEAR

Pooling arrangements for 2016

For the 2016 policy year, the Club retention will increase to $10 million.The Group Pooling retention will

remain unchanged at $80 million and continues to be insured by the Group captive,Hydra, and pre-funded by

a premium contribution from each club.This premium is included in the reinsurance rates.

Reinsurance arrangements

For 2016 the Hydra Participation on the First Layer of the main contract is 75% of $20 million excess of

$80 million, 60% of $20 million excess of $100 million and 30% of $460 million excess of $120 million.

The result of the renewal negotiations and programme restructuring is a reduction in reinsurance cost for all

categories as set out below.

The Group reinsurance rates (per gt) will be charged to Members for 2016 as follows:

Overspill Reinsurance

If a claim were to exceed $2,080 million, i.e. the limit of the Group’s excess of loss contract, the excess or

overspill is pooled amongst the International Group Clubs.The overall Group Pool limit for such an overspill

Tonnage Category 2016 rate per gt % change from 2015

Dirty Tankers $ 0.6567 -10.25

Clean Tankers $ 0.2816 -10.26

Dry Cargo Vessels $ 0.4537 -7.18

Passenger Vessels $ 3.5073 -7.19

claim remains unchanged at 2.5% of the Property Limitation fund under the 1976 Limitation Convention of

all ships entered in the International Group Pool Clubs.Mutual Members remain ultimately liable to pay an

overspill call up to a maximum of this limit for each entered ship, in accordance with Rule 22 of the Rules of

the Association. For the 2016 policy year, the Group has once again purchased reinsurance protection on behalf

of each club for an overspill claim of up to US$1,000 million.This reinsurance will be available to all Group

clubs to reduce the need to make an overspill call on their members.

Oil pollution limit

The Board has determined in accordance with Rule 5B(ii) that with effect from 12 noon GMT on 20th

February 2016 the limit of the Association’s aggregate liability for claims in respect of oil pollution shall remain

US$1,000 million each event in respect of each ship entered by or on behalf of an owner not being a charterer

other than a demise or bareboat charterer.

Passenger/Crew limits

In accordance with Rule 5B(iii), the Association’s aggregate liability for any and all claims is limited to

US$2,000 million each event in respect of liability to Passengers and to US$3,000 million each event in

respect of liability to Passengers and Seamen, in respect of each ship entered by or on behalf of an Owner not

being a charterer other than a demise or bareboat charterer.

War risks P&I

Details of the Club’s special war risks P&I excess cover for the 2016 policy year are set out in the Club’s

Circular Ref 2/16.

US oil pollution surcharge

This surcharge will remain at nil for 2016/17 and, therefore, no requirement to make any declarations under

this scheme.

Charterers’ P&I limit

“Pursuant to proviso (ii) of the Introduction to Rule 2 of the Association’s Rules, the Directors

RESOLVED that:

With effect from 12 noon GMT on 20th February, 2016 where the entry of a ship in the Association is in the

name of or on behalf of a charterer, other than a demise or bareboat charterer, and the Association’s liability in

respect of the insurance provided to such charterer for the risks set out in Rule 2 is limited to a sum exceeding

US$100 million, the Member shall not be entitled to recover from the Association any amount exceeding

US$100 million in respect of those risks arising out of any one event unless and to the extent such amount is

recovered by the Association from reinsurer(s).

Yours faithfully

THOMAS MILLER (BERMUDA) LTD

For more information

Members requiring further information should contact their usual Club contact.

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