Why ITIC?
Why choose ITIC?
- ITIC provides professional indemnity insurance at cost. ITIC is the mutual insurer for the transport industry with no external shareholders or underwriters to take a profit from the business.
- ITIC pays dividends annually. Any surplus funds in each year are shared by the assureds in the form of continuity credits.
- ITIC understands your business. ITIC’s specialist knowledge of your business will make it quicker and easier for you to obtain the support you will need and to claim on your PI insurance.
- ITIC is more than just insurance. As an assured at ITIC you will receive support from a team who understand the unique situations and liabilities that your business faces.
- ITIC will provide a sympathetic approach. ITIC understands that you will often have commercial relationships which will need preserving and will assist in helping to allow the business association to continue. Also ITIC’s unique “discretionary insurance” clause could also support any claim which may not normally be paid by a PI policy.
ITIC Fact File
- Comprehensive professional indemnity insurance, and public liability, cover provided consistently for more than 80 years
- Gross premium US$ 50 million
- Free reserves of US$ 80 million
- Average premium US$ 25,000
- 2,000 Members
- In more than 100 countries
- Worldwide insurance cover
- A total of US$ 70 million from ITIC’s reserves has been paid as dividends to renewing members
- Backed by at least "A" rated security
- ITIC welcomes enquiries from all insurance brokers
- Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and Prudential Regulation Authority
