The International Group of protection and indemnity (P&I) insurers has revised the rules governing competition for business between its 13 member clubs.
Competition between mutual P&I clubs is strictly governed by the International Group Agreement (IGA) which prevents practices such as discounting to win business from another club.
However, under the revisions agreed this week, the IGA will no longer apply to charterers’ P&I business from the 20 February 2020 renewal.
