American Club opts for 10% at renewal
Protection and indemnity (P&I) insurer the American Club, one of the 13 International Group mutuals, has unveiled plans to impose a 10% general increase on its members in an attempt to offset the so-called churn effect. The Club’s directors took into account the near and longer-term implications of the current economic climate, the difficult trading conditions affecting shipowners and charterers and the emerging trends within the P&I sector itself.
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