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International

The Swedish Club to raise P&I rates by 10% for 2023

December 13, 2022 Reprints

Mutual marine insurer The Swedish Club has decided to increase its protection and indemnity insurance rates by 10% for 2023 in response to risk exposure from the current geopolitical environment, inflation and slow post-COVID-19 recovery, All About Shipping reported. The insurer will also increase freight, demurrage and defense insurance rates by 15%.

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The Swedish Club to raise P&I rates by 10% for 2023

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