...because everyone makes mistakes

Russia-Ukraine conflict

This page collates updates, circulars and other material relevant to the current crisis in Ukraine. If members become aware, or have concerns, that their clients and/or parties in a transaction have become a sanctioned entity, or are concerned as to whether the sanction regimes apply to any of their transactions, they should contact specialist sanctions lawyers as soon as possible.

25/10/2022

Press release: ITIC successfully obtains payment of overdue commission fees for S&P shipbroker

ITIC obtained overdue payment of a shipbroker member’s commission which the seller had refused to pay despite the successful completion of the sale and purchase of a ship.

18/10/2022

Claims Review 47

The latest edition of the Claims Review is available to read now. This edition of the Claims Review contains claims examples and warnings for ship agents, shipbrokers, ship managers and naval architects. 

13/10/2022

ESG

ITIC recognises an honest and transparent review of its ESG profile is key to its long-term vision. This report is a dynamic view of ITIC’s activities in the Environmental, Social and Governance sectors which are being updated on an ongoing basis.

27/09/2022

ITIC circular: EU sanctions against Russia update

On 19 September 2022, the EU issued two amended Russia-sanctions FAQs on the import, purchase, and transfer of listed goods (nos. 2 and 4 available). Read the full circular here...

16/09/2022

ITIC circular: EU sanctions against Russia

Since Russia’s invasion of the Ukraine in February 2022, the European Union has progressively intensified its sanctions against Russia. 

25/08/2022

Press release: ITIC returns profits to members for 27th year running

ITIC a mutual insurer which provides professional indemnity cover for intermediaries serving marine, offshore and renewable and aviation customers, has reported annual premium growth in 2021/22 of 9.8% and will be returning US$ 8m in surplus funds to its members.