The claims record of handysize and handymax tonnage has been put under increased scrutiny by the UK Club.
The annual review reports that the collective loss record of the handymax fleet in particular has reached an “unacceptably high level of 140%”, indicating claims costs were seriously outstripping premium.
The UK Club says some handymax owners have excellent claims records but overall there was particular emphasis at the last renewal on correcting poor records for this class of business.
