P&I clubs boosted by successful 2007/08 renewal season

However, broker Aon described last minute 70% increase in the marine passenger sector’s reinsurance tariff as a ‘mugging’

The significantly increased claims on the excess of risk pool created by the Protection & Indemnity (P&I) clubs’ (marine insurance mutuals which provide liability cover to the world’s merchant shipping fleets) ensured that the clubs were in a strong position when it came to negotiating increases in subscription or premium levels with their ship owner members at the recent 2007/8 renewals, according to Aon Marine, the business division within broking group Aon that deals with the marine mutual sector.