North P&I to raise premium rates by 10%
Posted On: Nov. 29, 2022 9:14 AM CST![Marine](https://bicontent.businessinsurance.com/ba1c3ba3-bdeb-4e1c-906b-976d8568cf1e.jpg)
U.K.-based marine insurer North of England P&I Association Ltd. will implement a 10% general increase in its rates for the 2023-2024 policy year, as it looks to prepare for market volatility amid risks from the Ukraine-Russia war and inflationary pressures, Safety4Sea reported. The insurer is also increasing rates by 15% for all freight, demurrage and defense insurance policies written.