Revisions to the regulations that govern competition between protection and indemnity mutuals are imminent, according to broker Gallagher.
The International Group of P&I Clubs' International Group Agreement (IGA) rules do not allow members to discount on premiums to win business from fellow members. This has led to accusations the International Group operates as a cartel.
Updating the IGA has been a hot topic of discussion among managers of the International Group at their biannual meetings.
