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If ships are entered in the Club through a broker, brokerage of 20% will be payable on the Advance Contribution rates, less any allowances for Rule 3 or restricted trading discounts. If ships are entered in the Club directly, commission of 20%, calculated on the same basis, will be payable to the Member.
Where Additional Premiums are placed on the Club’s main reinsurance contract, a discount of 30% will be payable. If the ships are entered in the Club through a broker, the discount will be payable to the broker. If the ships are entered in the Club directly, the discount will be payable to the Member.
Liability for Premiums
In common with other UK market insurers brokers remain liable for premiums due for insurances placed with the UK War Risks Club