Britannia to end general increases and hand back cash, despite underwriting deficit
Britannia P&I club is to ditch general increases for both protection and indemnity and freight, demurrage and defence cover, and will from now on price vessels individually, it said in a statement on its website
‘The 2018/19 policy year was challenging, with lower-than-projected investment returns and claims being higher than expected. Claims continue to be high, in particular those in excess of $1m,’ says marine mutual
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