Individual club retention increases to $9 million at 20 February 2013
Following consideration within the International Group Reinsurance subcommittee, the Group has agreed that the individual club retention which was last increased from US$ 7 million to US$ 8 million with effect from the 2010 policy year will be increased to US$ 9 million with effect from 20 February 2013.
The UK Club welcomes the increased retention level to $9 million. It has long supported a significant level of risk retention by individual clubs.
An explanation of the Pooling system and reinsurance provided via the International Group can be found in the 'About the Club' section of this websitehere
Source UK P&I
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