Why some shipowners are staring down the barrel of insurance hikes next year

Some shipowners face steep premium increases at the 2025 renewal, according to an update from insurance broker Aon.

The big 12 protection and indemnity clubs are unlikely to break ranks and publicly announce general increases outside of the estimated 5% to 7.5% range for the February annual renewal.

However, they will aim for higher increases in negotiations with members outside of the best-performing companies, said Aon.