The biggest of the protection and indemnity clubs is again cutting the cost of cover by reducing its deferred call for the year to February 2016 from 25% to 15%.
The 10% discount equates to $37m and amounts to a dividend to the shipowner members of Gard.
Gard has an unequalled record of not collecting its full forecast P&I premium, with this policy saving shipowners $224m over the last seven years.
The
