Ambitious plans to develop the Navigators protection-and-indemnity (P&I) scheme are in the pipeline as the venture marks its 10th anniversary.
Navigators plans to extend its geographical base, is actively considering increasing the size of ships it insures and is looking at doubling the cover limit to $1bn.
It is also interested in playing a role in consolidating the fixed premium P&I market, where the arrival of new entrants means there are now about 20 underwriters battling for business and an increasing number of P&I clubs also active in offering non-mutual cover.
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