UK P&I Club warns of claims inflation
The UK P&I Club (the Club), one of the oldest shipping protection and indemnity insurance mutuals, has said its results for the year ended 20 February 2012 showed a surplus of $11m after a combined ratio of 97%.
The Club said it had witnessed an improved claims trend supported in part by falling claims frequency since 2008, but warned that underlying claims inflation over the longer term has been 5% and that
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