The North of England Protecting and Indemnity Association is to seek no general increase at the February renewal of cover but instead return 5% of premium for the current year.
Eight of the 13 International Group P&I clubs have now decided against a general increase with more expected to follow this trend.
The North of England Club’s return of premium will take the form of a credit note that can be applied against the cost of cover for next year so amounts to a continuity credit that will be set against the first instalment of the 2017 premium.
