The International Group (IG) of P&I clubs' pool claims are likely to exceed $650mn for 2024, despite claims associated with the Dali incident expected to be limited to $100mn, according to Gallagher Specialty.
P&I
The International Group of P&I Clubs has confirmed the structure of its $3.1bn group excess of loss reinsurance contract for the 2025/26 policy year, with the group highlighting a recent uptick in pool claims activity amid a “challenging” year dominated by the Baltimore bridge incident.
The UK government has expanded its list of sanctioned entities with 30 new vessels and two Russian insurers targeted in its largest shadow fleet-focused sanctions package to date.
P&I club Gard will levy an average 4 percent premium increase on estimated total call (ETC) for the 2025 renewal to maintain its mutual P&I portfolio at a small estimated loss.
Gallagher Specialty has said it would be prudent for owners to budget for a double-digit increase in reinsurance rates for the International Group of P&I Clubs to accommodate losses from the Baltimore bridge incident.
August 21(Reuters) by Noor Zainab Hussain – Yacht insurance provider OMAC is the carrier on the hull for the
August 21(Reuters) by Noor Zainab Hussain – Yacht insurance provider OMAC is the carrier on the hull for the
A substantial P&I claim is expected after the tragic sinking of the British Marine-registered
London P&I Club has signed a memorandum of understanding (MoU) with H2Terminals to evaluate and develop insurance solutions for the shipping of green hydrogen.
The American Club has posted a 99 percent combined loss ratio for 2023/2024 despite an increase in exposures from the 2023 International Group pool.
