Insurance broker Marsh Specialty is forecasting a reduced increase in protection and indemnity rates at next February’s renewal after this year’s double-digit hike.
P&I clubs are currently drawing up their pricing policy for for 2023 as part of their forward financial planning.
Ahead of the announcements, Marsh head of P&I Mark Cracknell said the financial pressure on the insurance mutuals is much reduced after applying significant rate rates this year.
