Protection and indemnity clubs hike rates for 20 Feb renewal: AM Best

Mutual marine insurers target pricing adequacy to offset 2024/25 underwriting deficit.

Protection & Indemnity (P&I) clubs have announced general rate increases ahead of the 20 February 2026 renewal, as they seek to manage ongoing claims inflation and volatility in pool claims, according to AM Best. 

In its latest report, AM Best notes that these increases are aimed at maintaining pricing adequacy and offsetting the underwriting deficit from 2024/25. 

However, the report warns that competitive pressures may make it harder for clubs to achieve the full rate adjustments.

AM Best also highlighted that sanctions risk remains a key concern, requiring clubs to actively manage compliance and support shipowners in understanding their obligations.