Claims can be made against yacht brokers for a wide range of errors, regardless of perceived gravity of the error or the fact that it may well have been made unwittingly.
These claims are potentially expensive.
ITIC’s role is to help you minimise the financial impact of mistakes such as:
- vessel incorrectly described –particulars that could be deemed misleading are then provided to principal;
- negotiation errors – failure to pass on the details of an offer;
- offer sent to the wrong email address;
- acting for a non-existent principal;
- fraud by an employee;
- misrepresentation of status;
- acting without authority;
- breach of warranty of authority – entering into a contract on behalf of the principal without their authority;
- charter party errors.
As the leading specialist insurer of yacht brokers, ITIC understands the market, the terminology and the delicate nature of the commercial relationships surrounding the business.
No matter how unique your problem may seem at the time, the chances are that we’ve probably already encountered an identical problem.
ITIC will provide the peace of mind you need, when you need it.
Everyone makes mistakes...
Is your business ready for the ‘worst case’ scenario?