A warning that the cost of protection-and-indemnity (P&I) cover could double over the next five years is the unwelcome New Year message from the Arthur J Gallagher broking group.
The broker sees the premium pain as not being limited to next month’s renewal of P&I cover but continuing for the foreseeable future.
Malcolm Godfrey, Gallagher’s P&I chief, expects that only a few owners will escape higher P&I premiums in a hardening market.
Although
