UK P&I Club rates rise by 2.5pc

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The UK P&I Club, which provides protection and indemnity insurance, is to increase rates by 2.5 per cent for 2016.

Chairman Alan Olivier said: “The 2.5 per cent General Increase highlights the Board’s determination to maintain a highly disciplined approach to underwriting to secure the long term stability of the Club. The Board is equally determined to support our Members in challenging economic conditions. We are pleased, given our strong capital position, to be able to reduce the premium on 2014, which was a good year for the Club.”

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