P&I rates to average about 5% higher on renewal: Gallagher

Salvage efforts continue at the Francis Scott Key Bridge, 5 April 2024
 Francis Scott Key Bridge, Baltimore. Credit: Shuttertstock/Andrew Leyden

Shipowners could face an average general increase at “a shade under 5%” for protection and indemnity (P&I) renewals, according to Gallagher. Although the group of 12 International Group of P&I Clubs narrowed underwrit…


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