29/09/2014

Mortgage cover letter

29/09/2014

War Risks time policy and certificate of entry

In common with other leading mutual such as the International Group P&I Clubs, the UK War Risks Club issues a certificate of entry which evidences the shipowner’s insurance and highlights some key aspects of the cover.  

The Club issues an individual certificate of entry for each ship which takes account of the varied assureds that may be included in that cover, the specific insured values of both hull and other interests, the time period and also key terms of cover such as the enhanced limit of war risks P&I cover, definition of the AP areas at the time of issue, recognition of mortgage interests, ISPS compliance etc.

29/09/2014

Brokerage/commission credit note

The Club’s brokerage credit note follows a similar format to the main debit note.  The credit note number is displayed in bold capitals in the title for ease of reference.  The computation of brokerage on the gross premium is also clearly displayed

29/09/2014

Advance contribution debit note

The Club issues its debit notes showing the gross premium payable only.  Brokerage is itemised on a separate credit note as well as the “Debit/Credit Note Summary”.  Many brokers save on time and administration cost by forwarding this debit note directly to the shipowner. The debit note number is displayed in bold capitals in the title for ease of reference.  The basic computation of premium from insured value and applicable rate is also displayed followed by a due date and the period to which the premium applies.