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International

P&I clubs to hike rates at upcoming renewals after high claims costs

February 17, 2022 Reprints

A report by ratings agency A.M. Best Co. Inc. said that marine protection and indemnity clubs are looking to increase rates significantly ahead of the upcoming renewals in response to deteriorating claims experience, The Royal Gazette reported. The price increases have been spurred by high COVID-19-related claims costs and record high costs of pooled claims.

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P&I clubs to hike rates at upcoming renewals after high claims costs

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