Class 5 (P&I) – 2024/25 Renewal (5.635)

This circular explains London P&I’s approach to the 2024/25 renewal for Class 5 (P&I) and Class 8 (FD&D), including targeted rate changes, release call rates and payment arrangements.

London P&I notes a cautious renewal position, reflecting inflationary pressures, uncertainty around interest rates and the potential impact of a small number of higher severity claims.