P&I Renewals Are Up — and the Inter-Club Agreement Just Changed
The 2026 P&I renewal season was a hard one. General increases across the International Group averaged 6%, with seven of twelve clubs asking for 5% and the American Club and Steamship pushing 8%. The sharpest reallocation landed on container operators — a sector the Group singled out for "a concerning level of claims." At the same time, the Inter-Club Agreement itself is moving: its rare fourth amendment, which took effect in July 2025, exists specifically to close an interpretation gap in clause 4(c) that tribunals had started reading inconsistently.
Put together, that's a claims environment getting more expensive and a core allocation mechanism getting more technical — exactly the conditions where a claims handler, in-house counsel, or P&I correspondent needs to get the categorisation right the first time, not after a dispute over which clause applies.
Cargo Claims: The Essential Guide, by David Richards (Informa Law from Routledge, 2026), is the first book dedicated solely to this area in nearly two decades. Richards has handled cargo claims from both sides of the desk — as a partner at Ince & Co and as Deputy Global Head of P&I Claims at the North of England P&I Club — and it shows in the structure: the book follows a claim from the carrier's basis of liability through defences, cargo insurers and subrogation, security and Club Letters of Undertaking, all the way to recovery, with a full clause-by-clause commentary on the InterClub Agreement, including the 2025 amendment.
For anyone renewing P&I cover this year, or handling a claim where the ICA's clause 4(c) is actually in dispute, this is the reference that turns a contested apportionment into a settled one.
It sits within our Law collection, alongside other current titles on shipping and maritime insurance.
Q&A
Does this book cover the 2025 amendment to the Inter-Club Agreement? Yes, the clause-by-clause commentary on the InterClub Agreement reflects the current, amended text, including the clarification to clause 4(c).
Why are P&I general increases relevant to a book about cargo claims? Rising general increases, especially for container operators, reflect rising claims frequency and severity — the exact pressure that makes accurate claims handling and apportionment more valuable to P&I clubs and their members.
Who is this book written for? Ship operators, shipping law firms, P&I clubs, cargo recovery agencies, and marine cargo insurers handling claims day-to-day.
Does it cover cargo insurers and subrogation as well as carrier liability? Yes, it addresses both sides — the carrier's basis of liability and defences, and the cargo insurer's route to recovery through subrogation.
Where can I buy Cargo Claims: The Essential Guide? You can order it directly from CLNZ Books, with secure worldwide shipping.