Pool managers in many parts of the world have ITIC professional indemnity insurance.
This specialist area requires insurance providers who are familiar with its needs and can demonstrate first-hand knowledge supported by frontline experience.
ITIC fits the bill.
Cases that ITIC has handled for pool managers have resulted from:
- fixing for a ship for a port prohibited under the time charter party
- fixing a ship for a cargo, which the ship was unable to carry;
- incorrect description of ship’s speed and consumption;
- failure to forward demurrage statement within time-bar;
- failure to collect freight.