The UK P&I Club board has agreed a general increase of 17.5% in member's premium rating, plus any relevant contribution to the cost of the International Group's 2004 reinsurance programme.
The Club made the decision following a review of the development of its funds and claims.
It said an increase in claims during 2002, Coupled with anticipated favourable conditions for the shipping industry, with resulting higher levels of ship usage, which would in turn produce an increased level of claims, was behind the decision.
The Club said it recognised the increase would be unwelcome, but that it was in the best interests of members to increase contributions and maintain the Club's financial strength.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
