ITIC provides professional indemnity (PI) insurance – cover against losses suffered by your customers as a result of your negligence. 

ITIC also provides expert advice on loss prevention and legal issues, together with local help and support from a worldwide network of correspondents. Our team of knowledgeable industry professionals also offers contractual risk management guidance.  

Professional Indemnity 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.

Directors' & Officers' Insurance
D&O insurance cover protects companies and their directors', officers' and senior managers against claims arising from their decisions and actions taken whilst managing their business.

Debt Collection Insurance
An optional benefit that ITIC offers to its members is a comprehensive debt collection cover to assist with the recovery of outstanding debts, commisions, brokerage and disbursement accounts.  This cover pays for any legal costs incurred in the recovery of the debt, rather than the debt itself.

Commission Income Insurance
ITIC's loss of commission cover is tailored to meet ship brokers' needs, offered as an endorsement to members' existing liability insurances.  There are two levels of cover, actual and constructive total loss only, and full cover which insures a wide range of marine perils.

Cash in transit Insurance
ITIC offers a unique insurance package to its members.  The combination of cash in transit and petty cash insurance offers members the convenience of a single policy at a competitive premium.

Loss of Management Fee Insurance  
A loss of commission caused by a loss of management fee insurance is a vital cover for ship managers.  This is offered as an endorsement to ship manager members' existing professional indemnity and covers them if they are not paid their fees as a result of a ship under their management being lost through actual or constructive total loss.

Cargo Liability Insurance 
A ship agent's or ship broker's liability is usually the result of his own negligence, whereas a freight forwarder, NVOC, warehouseman or haulier can incur a contractual liability through no fault of his own.  ITIC offers additional cover for cargo liabilities.

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.

For more detail on the cover ITIC offers and people ITIC insures, please see our list of coverages and who we insure.