Cover Story: P&I Clubs – Increased Rates & Claims
Source: Asia Insurance Review | Jan 2006
The general increase
for the International Group P&I Club’s renewal is between nil to 12.5%
and Mr Nick Sansom, Senior Vice President, Head of Marine, Asia, Marsh
Marine & Energy, said that reinsurance costs will also be the other cost
factor that will likely increase. With his background as a P&I underwriter
before and now as a broker, he gives insights into the P&I market today
as well as how the various Clubs seek to grow and manage their Asian portfolios.
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