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Co-assurance on the owner's insurances

No manager should accept any argument from the owner or their insurers not to be a full co-assured on the owner’s P&I cover. We do come across examples where the manager is not a full joint

No negligence, no claim?

A consultant was engaged to notify all interested parties along a route of a new telecommunications cable.  The consultant did this in accordance with its principal’s instructions. 

Subsea telecommunication cable

A consultant was engaged to notify all interested parties along a route of a new telecommunications cable. The consultant did this in accordance with its principal’s instructions. However, whilst

Good Contractual Risk Management

As the world becomes more litigious, ITIC has seen Members in the Middle East, and beyond, focusing more on their contractual risk management. ITIC always encourages Members to use standard terms and

Welcome to this Japanese ship management edition of The Wire

船舶管理について具体的に説明するITICの電子News Letter The Wireの船舶管理特別版へようこそ。ITICは400社を超える船舶管理会社、乗組員管理会社、Commercial Managers、Pool Managers及びYacht管理会社の活動を付保する世界最大の賠償責任保険者です。船舶管理会社はITICの総メンバー-の20％以上を占めます。 ITICは、調停、Dry

A general guide to ship manager’s undertakings - Japanese translation

ITICは、船舶管理会社から会社が署名するよう要求された「船舶管理者保証」や「保証書」（LOU）の文言につき、コメントをしばしば求められます。現在の金融市場では、かような状況はより現実の問題となっています。 船舶管理者の保証は、通常銀行やその他の融資者や金融機関（本記事では以下単に「銀行」といいます）から提示される書類ですが、通常船舶管理者から銀行宛の保証書の形式で記され、本船の管理者として引き

Allegations of arson and allegations of defamation

A yacht was involved in an explosion at a marina.  Following the incident an insurance claim was made by the owners of the yacht. The insurers appointed an expert to investigate the cause of the

Introduction

Introduction

Welcome to the latest edition of ITIC’s The Wire, focusing on Germany. ITIC currently supports 160 German members, including many ship managers. ITIC has had a strong presence in the market for

Introduction

Introduction

Welcome to this edition of ITIC’s The Wire focusing on all things Know Your Client (KYC). A special thank you to everyone who attended the Know Your Client panel debate last month in association with

Yacht purchaser’s claim

Yacht purchaser’s claim

A classification society surveyor had given an 80 foot steel hulled motor yacht a periodical special survey and had passed the yacht as “100 A1”. The surveyor knew that a purchaser was interested in