But there is only going to be a 5% general increase in the cost of cover for delays arising from disputes or other incidents on board vessels.
The club which covers 2,700 vessels of 120m dwt for delays attributable to land side incidents and 1,200 vessels of 50m dwt for shipboard events warns that claims are increasing.
Bill Milligan, the club’s senior manager said new threats such as the Ebola crisis affecting trade to West Africa were adding to established risks
Milligan said the 2013/14 year saw many strikes in South America which had produced a large number of claims from insured vessels with the current policy year beginning with a similar level of claims.
The club is facing a loss from land based claims for the 2013/14 year but directors plan to cover part of this shortfall from contingency funds.
