Shipowners' Club has joined other protection and indemnity clubs in announcing a general increase in 2020, but at a lower level than its rivals.
The UK insurer said it will add 5% to the cost of cover next year, after six years of no rises.
"While the club has a policy of underwriting to a breakeven position, the board has agreed for the last two years to utilise the club’s strong capital position in order to subsidise its underwriting position," it said.
