Shipping’s leading protection and indemnity insurers declared themselves satisfied with the results of this year’s 20 February policy renewal in which they attempted to achieve the biggest hike in premiums in more than a decade.
A hard line on increasing rates by the P&I insurers has led to a significant amount of movement between clubs.
In one of the biggest changes, it has emerged that the North P&I Club has lost a major account after parting company with prestige member Teekay.
