Marine registries address a wide audience. Every professional working within the marine sector is likely to have need of a registry at some point. The exposure to potential claims arising from errors in registration is extensive.
It is possible that you may also be implicated in claims that may have stemmed from elsewhere; nonetheless, you will have to defend such claims. On the other hand, claims may well arise from mistakes made in the registration process.
ITIC professional indemnity cover for marine registries provides peace of mind and recourse to leading professionals when you need it, whether or not you believe yourself to be liable.
Here are three examples of the types of scenarios with which marine registries may be presented:
- if a vessel sinks that is registered with your authority, you could be drawn into legal proceedings regardless of your liability status;
- providing inaccurate information to a third party about vessels registered with your authority;
- registering a vessel without obtaining the correct certification or carrying out the necessary checks; leading to claims against you.
Everyone makes mistakes...
Is your business ready for the ‘worst case’ scenario?