West of England defends ‘fair and reasonable’ 7.5% rate hike
Rate erosion, record level pool claims and tanking investment returns will see all clubs push up prices, insists Tom Bowsher
P&I rates have been gradually eroding in real terms for a long period of time, which makes West of England’s 7.5% surcharge on next year’s premiums reasonable, according to the marine mutual’s chief executive. Other clubs in the International Group are likely to follow suit as well, he told Lloyd’s List
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