NU Online News Service, Feb. 23, 3:27 p.m. EST
Ship owners faced a more benign protection and indemnity (P&I) insurance renewal season as of last week, according to the marine division of Aon Risk Services, subsidiary of Chicago-based insurance broker Aon Corp.
Aon said that against a backdrop of improving claims trends and favorable investment performance for some of the mutual insurance providers (referred to as clubs), general increases (often the starting point for renewal negotiation) ranged between zero and 12.5 percent, with a market average of 4.54 percent.
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