P&I premium changes emerging

Figures for next year’s premum increases are emerging. The UK P&I Club board has agreed that the general increase for the 2015 renewal will be 6.5%. The premium rating increase is in addition to any change in the cost of the International Group reinsurance premium for 2015, which will be determined next January. The board said it was mindful of the balance between the needs of Club’s members on the one hand and the Club’s commitment to maintaining balanced underwriting and sound financial planning on the other.