IG confirms 2022 contract structure with ‘significant’ rate increases
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IG confirms 2022 contract structure with ‘significant’ rate increases

IG P&I logo cargo ship.jpg

The International Group (IG) of P&I Clubs has revealed the full structure of its 2022 reinsurance placement, which will renew with an increase in premiums following a deterioration in claims against the contract.

As previously reported by Insurance Insider, the main general excess-of-loss placement (GXL), which covers $2bn in excess of $100mn, has been split into four layers, with the $1bn collective overspill renewed in excess of the GXL and the three...

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