Skuld's committee of shipowners has decided unanimously to make International Safety Management Code compliance a condition for insurance cover in the club. The Protection and Indemnity Club said it had endorsed the recommendation of a 20 per cent supplementary call or delayed premium payment for the year ended February 20 - the sixth consecutive year of maintaining the 20 per cent call. 'The total amount paid for claims continues to decline slightly, leading to improved insurance results which, together with good investment results, lead to the strengthening of the club's financial position,' it said. The club's reserves came to US$104 million. While its aim was not to accumulate funds, it was essential to build sufficient funds to guarantee solvency requirements were satisfied according to law, the club said. Adequate reserves also would protect members against fluctuations in claims development which otherwise would lead to additional supplementary calls.