Report on the 599th Meeting of the Board of Directors 27 November 2018 No.18-011 Tweet Download PDF (209KB) To the Members The 599th Meeting of the Association’s Board of Directors was held in Tokyo on 27 November 2018 to review open policy years, decide on the 2019 renewal and adopt proposed alterations to the Rules of the Association. The decisions made at the Meeting are set out in “Main Decisions”, below.   Introduction                                                                       Thanks to the continued support of the Members of the Association, as at 20 October this year, the total number of vessels entered with our Association has been maintained at 4,284, across 95.30 million gross tons in the aggregate,   Turning to the claims received by the Association, in the first half of the 2018 policy year, the loss record for ocean-going vessels (mutual entries) began favourably. On the other hand, the loss record of coastal vessels (Naiko Class, fixed premium entries) has not been positive. However, considering the tendency of claim occurrence to increase during the winter season, the situation remains stable.   Having considered various factors essential for the management of the Association in facing the continuously challenging P&I insurance market, such as our Members’ difficult business environment, ensuring the soundness of the Association’s income and expenditure and so on, the Board has reached the decisions set out in “Main Decisions” below on advance call rates, supplementary calls and release calls for the 2019 policy year.     Main Decisions   Calls and Premiums Owners’ ent