Protection and Indemnity Clubs: Financial Review 2021 - Sign up

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In this report, we consider the debate for and against general increases being applied by the protection and indemnity (P&I) clubs.

We analyze this one-size-fits-all approach, deemed by clubs an essential part of their mutuality, to provide insight for P&I club members who may be facing the prospect of premium increases.

Key issues covered

• What is the purpose of general increases and do they serve to frustrate the objective of fair rating?  
• Are all reported underwriting losses as bad as they may seem?
• Where clubs have incurred underwriting losses, should all members be expected to contribute to the rebalancing requirement?

In addition, the report consolidates the financial data for the International Group P&I club market as a whole, and provides analysis of the individual mutuals based around key financial and business metrics.