Best’s Briefing: P&I Clubs — Renewal Increases Driven by Claims and Reinsurance Costs

LONDON, APRIL 2013
The 2013 renewals have been the most challenging in the history of the International Group of Protection and Indemnity (P&I) Clubs, of which there are 13 principal clubs. The average general increase was 8.5%, double that of 2012, with the range between the smallest and largest general increases being 11.5 percentage points, according to a recently released briefing from A.M. Best Co. The West Of England’s 3.5% rise was the smallest basic increase, but even this figure climbs to 7.5% when the increase in forecast deferred premium call is taken into account; this is still well below the 16.5% increase, as calculated on the same basis, sought by the Britannia Club.

To access a complimentary copy of this briefing, please click the following link:
Best’s Briefing: P&I Clubs 2013

Share
This entry was posted in World News and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply