S&P maintains stable outlook for P&I clubs

Standard & Poor’s Ratings Services is maintaining its stable outlook for protection & indemnity (P&I) clubs although the industry risk associated with the sector is moderately high, according to two reports published today (“Protection & Indemnity Clubs Continue To Chart Steady Course In Choppy Waters” and “Insurance Industry Risk Analysis: Protection & Indemnity Industry Risk Moderately High, But Offset By High Barriers To Entry And Very Strong Financial Flexibility”).