A general increase of 10% is to be required by the American Club at the February renewal of protection-and-indemnity (P&I) cover.

The New York-based mutual says claims on the current and earlier policy years is progressing in line with expectations and no cash calls are in prospect.

Chief executive Joe Hughes says that although premium rates per gross ton (gt) have experienced “some attenuation” as a result of churn, the American Club is making steady progress in accomplishing both near and longer-term goals.

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