Q. What is Mutuality (a Club)? 
A. It is a non profit making Insurer. ITIC is owned by the members (assureds) of ITIC, and is controlled by The Directors (who must be Members) of the Club. International Transport Intermediaries Management Ltd (ITIM), are appointed Managers by the Directors, to run International Transport Intermediaries Club (ITIC) on their behalf. 

Q. Discretionary insurance - what is it? 
A. Unlike commercial insurers, as a mutual insurer, the Directors of ITIC have the discretion to pay claims which are not specifically insured under the Rules, but which the Directors decide are similar or incidental to the assured services. The intention is to provide for circumstances which would have been included in the insurance if they had been contemplated when the insurance was drafted. 

Q.  UK IPT -  Why do ITIC debit  two full year's IPT  on a 2 year policy? 
A. This is a requirement by Her Majesty's Revenue & Customs (HMRC). The tax is immediately passed on the tax authorities. 

Q. Continuity credits, what are they? 
A. This is a payment from ITIC's free reserves which is made to all members at their first renewal, and every renewal thereafter. Current credit levels are currently between 12.5% and 17.5%. The effect of this payment is to reduce the net cost of every Member's insurance by these percentages. Every year, ITIC's Board of Directors assess what level of credit should be paid that policy year. ITIC has returned more than USD 50 million to its members by way of continuity credit payments since 1996. 

Q. 2 year policies - what are they it and what are the benefits? 
A. ITIC offer the option of 1 or 2 year policies upon and after the first renewal. With a 2 year policy, the level of continuity credit is generally greater and ITIC will provide a guaranteed credit in the second year of a certain amount, which could eventually be higher but not lower. You can also be certain of no increase in premium in the second year, irrespective of claims record. This is a good way of budgeting insurance costs over a 2 year period.

Q. Can ITIC provide worldwide cover? 
A. Yes, ITIC has no geographical restrictions, although each risk is looked at on an individual basis. 

Q. Do ITIC provide property damage, death and bodily injury to third parties?
A. The policy provides claims for physical loss of and damage to third party property if caused during the course the insured service.

Q. What is the profile of ITIC's client basis? 
A. Visit http://www.itic-insure.com/who-we-insure/ 

Q. Where can I get information on the types of claims that may arise? 
A. We have a comprehensive loss prevention section on our website at: http://www.itic-insure.com/knowledge-zone/claims review 

Q. What is the financial position of ITIC? 
A. Visit http://www.itic-insure.com/why-itic/annual-report-and-accounts/

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