Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
P&I clubs’ expansion could be too risky: AM Best
- 14 February 2018
Property and indemnity (P&I) clubs could put their reserves at risk if they fail to manage their entry into new classes of business effectively, AM Best has warned.
"Expansion outside mutual P&I business could put member capital at risk, especially if expansion is not accompanied by a prudent approach to underwriting that incorporates strict loss limits," the ratings agency said in its 2017 P&I club market review.
The analysis follows a push by P&I mutuals to increase their profitability by...
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