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International

London P&I Club raises supplementary call to restore finances

October 15, 2021 Reprints

The London P&I Club is raising a supplementary call for the 2019/20, 2020/21 and 2021/22 P&I policy years, as it intends to restore and strengthen its financial condition after underwriting deficits and adverse trading conditions in recent years, Sea News reported. The club said that a surge in the cost of claims in its mutual protection and indemnity insurance business and increased frequency of COVID-19 related claims forced it to make the call.

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London P&I Club raises supplementary call to restore finances

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