The rate rise compares to 10% general increases at the New York based mutual over the last couple of years but is in line with a pattern of more modest premium hikes for the 2015 renewal.
The 4.5% increase applies to mutual and fixed premium cover as well as to freight, demurrage and defence insurance.
The American Club, the smallest of the International Group P&I mutuals, reports that as of the end of September its contingency fund had reached $87.4m,
