PI Insurance
Professional indemnity insurance provides cover for claims brought against you for losses suffered by your customers as a result of your negligence or error and omission. ITIC is the leading provider of professional indemnity (PI) insurance to companies based in the transport industry.
ITIC’s comprehensive professional indemnity insurance includes cover for losses caused by errors or omissions, fraud, breach of intellectual property rights and other related risks.
Highlights of ITIC's insurance include:
- Worldwide coverage, including the USA and Canada
- Third party (public) liability insurance
- Bodily injury and property damage liability protection
- Legal defence costs insurance
- Automatic cover for subcontractors
- Discretionary insurance adjudicated upon by fellow industry professionals
A range of additional specialist products including insurances for Debt Collection, Loss of Commission Income for Ship Brokers, Cash-in-Transit for Ship Agents and Ship Brokers, Loss of Management Fee for Ship Managers, Cargo Liability, and Directors' and Officers' insurance is available exclusively to members of ITIC.
ITIC also provides expert advice on loss prevention and legal issues, together with local help and support from a worldwide network of correspondents. The ITIC team of knowledgeable industry professionals also offer contractual risk management guidance.
As ITIC is a mutual club, you are not merely a policyholder but a member. This means there are no external shareholders, which has allowed ITIC to pay mutual dividends at renewal for over ten years.
