American Club plans 10% rate hike next year

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Monday, November 26, 2012

American Steamship Owners Mutual Protection and Indemnity Association (American Club) said it will increase premiums 10 percent on all classes of premium (mutual and fixed-premium) for both protection and indemnity insurance and freight, demurrage and defense insurance for the policy year starting Feb. 20. The company said its directors decided on the increase after looking at the near- and longer-term implications of the economic climate, emerging trends within the P&...

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