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Welcome to this edition of ITIC’s The Wire which has been produced exclusively for insurance brokers during ITIC’s centenary year. It includes a selection of articles: an update on the continuity…

The ITIC board met in March 2025 in Hong Kong. The board of ITIC have agreed that: there will be no general increase in premium in the 2025 policy year; for the 31st  consecutive year, each…

The following table examines how a Professional Indemnity (PI) policy could respond to the liabilities of the assured in various common situations. It considers both the likely response of the…

ITIC hosted an insurance broker briefing webinar which covered an underwriting update, discussed continuity credit and highlighted the elevation of aviation PI insurance at ITIC.…

Professional Indemnity (“PI”) insurance provides cover for aircraft lease managers for claims which are brought against them for losses suffered by their clients as a result of their negligent acts,…

ITIC is the leading provider of professional indemnity insurance to superyacht professionals, insuring more than 150 companies worldwide. The team at ITIC has a complete understanding of the risks,…

A banker wished to charter a yacht for a holiday. ITIC insured the broker acting for the charterer who provided details of a yacht MY PARADISE to them, which had been received from the yacht’s…

In a recent article in a superyacht publication, a lawyer suggested that as yachts were very different to oil tankers, BIMCO Shipman 2009 (Shipman) was not a suitable document to use. This is…

ITIC insured a yacht manager who was replaced by a new manager at the end of an extended winter refit in the South of France. At the end of the refit in December the yacht departed the South of…

The owner required two spinnakers to be taken off the yacht and forwarded for repairs at another port. The agent was asked to arrange temporary storage until the repairs couldbeorganised.The agent…