Gard’s premium hikes will be lower than that of its competitors

Norwegian marine insurer Gard AS will raise rates 5% to 7% for the 2023-2024 policy year, ShippingWatch reported. Gard pointed out that its rate hike is not as high as several other competitors as it has customers strong risk management and operational quality, allowing the insurer to better manage risks and remain competitive. Several other marine insurers have resorted to a 10% general increase.