October 15 - A developing trend in the number and quantum of higher value claims has led smaller tonnage specialist the Shipowners' Club to announce a general increase in premiums of 5 percent from February 20, 2013.

The mutual marine liability insurer said a trend that began in 2011 is evolving more strongly in 2012, and it is anticipated that the 2011 claims position will show a 10 percent increase in the cost of claims per tonne as compared to 2010.

This pattern of claims makes it necessary to impose a general increase of 5 percent on premiums at the next renewal date to ensure that the Club's strong operating performance continues in 2013.

Shipowners' Club ceo Charles Hume noted: " We are confident that our members will recognise the importance of maintaining the Club's financial security into the future."