The cost of fixed-premium protection-and-indemnity cover is expected to continue to fall despite a few omens that the market is hardening.
The Arthur J Gallagher insurance broking group expects rates to drop by between 1.5% and 3% this year, with the decline continuing in 2018.
The broker suggests that after years of growth and competitive wars, the fixed-premium P&I market is now bogged down in the trenches.
