P&I Clubs in 2022 - An Even More Challenging Year

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      <subfield code="a">For the third consecutive year, the majority of P&I clubs have announced general increases ahead of the February 20, 2022 protection and indemnity (P&I) renewal date for ship-owners, amid deteriorating claims experience. The P&I segment is dominated by the 13 members of the International Group of P&I Clubs (lnternational Group), which collectively insure approximately 90% of the world's oceangoing tonnage. In advance of the February 2022 renewal deadline, nine clubs have announced that they will apply a general increase to P&I premium rates. The other fou r- Britannia Steam Ship Insurance Association Holdings (Britannia P&I), Assuranceforeningen SKULD (Skuld), London Steam-Ship Owners' Mutual Insurance Association (The London P&I Club) and Gard P&I (Bermuda) (Gard) - have also announced similar actions to improve premium rates, referred to as mínimum target adjustments, ta rget increases or interna( targets.</subfield>
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