A 10% general increase is to be required by the London Steam-Ship Owners’ Mutual Insurance Association against a background of claims showing a generally upward trend.
The London Club has a history of underwriting losses, but in a notice to members declared that it intends to move towards a “more balanced” result on this front.
The club reports that attritional claims up to $100,000 are increasing in cost, those from $100,000 to $1m are developing in line with expectations, while those over $1m are higher than in the previous year, but at a more moderate level than some earlier years.
The
