Premium attributable to renewing P&I entries for 2021 increased in cash terms by about 5%, a rise conforming with that ordered by the board in November. However, taking into account increases in deductibles and changes to other insurance conditions, the overall premium increase, as if expiring terms had applied, was closer to 7.5%, the American Club said.
Tonnage in the club’s mutual P&I class increased by about 5% annually to approximately 18 million gross tons overall. Its FD&D entries rose by about 14% to 12.2 million gross tons. There was also an increase in daily tonnage on risk in regard