Report of the AGM proceedings and resolutions adopted.
Supplementary premium estimates remain nil for all open years. Overall increase of 17.5 per cent in mutual premium required for 2008. 10 per cent general increase in mutual premium, plus any increase in cost of International Group reinsurance. Additional Pool surcharge of 12 per cent on 2007 premium net of fixed reinsurance costs. General increase for fixed premium rates is five per cent. Release call policy adjusted.
A Special General Meeting will be held on the 14th January 2008 in Bermuda. The purpose of the SGM is to consider amending the Club's Rules. The papers for this meeting are enclosed. ACTIONMembers should ensure their completed proxy form is faxed or sent to the Secretary to arrive no later than 12 hours before the meeting.
Club certificates of entry should be carried on board the entered ships to evidence Members’ insurance. Club website "Ship Finder" service at www.ukpandi.com shows the list of entered ships. It is updated daily. Access to Members' certificates of entry and the Club website should be sufficient to satisfy enquiries on ships' insurance cover.