The rate rise is in line with expectations and slightly below the average increase of 7.7% across the 13 International Group clubs.
Managing director, Lars Rhodin, told a meeting of the club’s shipowner directors in London that the increase was appropriate given a continued rise in liabilities facing the shipping industry and the underlying claims inflation.
The Swedish Club, the last of the International Group clubs to set a general increase, said there had been a levelling off of claims frequency in 2012 but claims costs were rising at three to four percent a year.
The
