Frequently asked questions

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 (most of whom are also 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. The continuity credits for members who renew between 1st June 2023 and 31st May 2024 are as follows:

  • Members renewing for one year will be entitled to a continuity credit of 15%.
  • Members renewing for two years will be entitled to a continuity credit of 25% in year one and a guaranteed minimum credit for the second year of 15%.
  • All members currently in a two year policy will receive a total continuity credit of 25% at the midpoint of their policy period, instead of the originally promised 15%.

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 US$127 million to its members by way of continuity credit payments since 1994. 

Q. 2 year policies - what are they 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 

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: review 

Q. What is the financial position of ITIC?

You are currently offline. Some pages or content may fail to load.