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P&I renewals: Economic volatility forces clubs’ tough stance on general increases

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P&I renewals: Economic volatility forces clubs’ tough stance on general increases

The 2026 renewal season has been a difficult one for Protection and Indemnity (P&I) Insurance buyers. General increases – the additional amount that P&I clubs require from their members, represented as a percentage of the premium paid by each member – sat at a mean average of 6% across the International Group. The most frequent increase sat slightly lower, with 7 of the 12 clubs asking for increases of 5%. The American Club and Steamship members saw the highest increase of all, at 8%. In addition, except for Gard, all clubs have asked for standard deductible increases.

The 2026 renewal season has been a difficult one for Protection and Indemnity (P&I) Insurance buyers. General increases – the additional amount that P&I clubs require from their members, represented as a percentage of the premium paid by each member – sat at a mean average of 6% across the International Group. The most frequent increase sat slightly lower, with 7 of the 12 clubs asking for increases of 5%. The American Club and Steamship members saw the highest increase of all, at 8%. In addition, except for Gard, all clubs have asked for standard deductible increases.

Political Violence Market Update 2026

A softening market for Political Violence (PV) Insurance is a welcome sign for buyers, following a prolonged hard period. An influx of approximately £350m of new capacity via Lloyd’s syndicates and specialist underwriting agencies is driving competition, enabling brokers to market accounts more widely and deliver premium savings to clients.

But it's not all straightforward. While the years prior to 2022 saw a high volume of claims relating to civil unrest, the market has since been dominated by larger-scale incidents of political violence – forcing insurers to adapt their strategies. For buyers, this introduces complexity: S&T policies are now unlikely to offer indemnity against some of the most common threats of the last three-to-five years. This being the case, more buyers may gravitate towards the broader scope of Political Violence cover.

A softening market for Political Violence (PV) Insurance is a welcome sign for buyers, following a prolonged hard period. An influx of approximately £350m of new capacity via Lloyd’s syndicates and specialist underwriting agencies is driving competition, enabling brokers to market accounts more widely and deliver premium savings to clients.

But it's not all straightforward. While the years prior to 2022 saw a high volume of claims relating to civil unrest, the market has since been dominated by larger-scale incidents of political violence – forcing insurers to adapt their strategies. For buyers, this introduces complexity: S&T policies are now unlikely to offer indemnity against some of the most common threats of the last three-to-five years. This being the case, more buyers may gravitate towards the broader scope of Political Violence cover.

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