North Club imposes ‘transparent’ 7.5% general increase and warns on combined ratio
North P&I Club joins the ranks of International Group affiliates intending to impose the going rate of a 7.5% general increase at the next renewal round, and warns it expects its combined ratio for 2019/20 to top last year’s 105%
A transparent general rating increase is the most appropriate and equitable mechanism by which to notify members of the club’s overall budgetary requirements for the forthcoming policy year, says the club