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28 results:

Final destination disaster

… the transhipment port noticed the error and asked their principal for their instructions on how to solve the situation. The principal told the ship agent how to alter the software in order to show that the…

Follow the correct procedure

… The refrigerated containers were discharged upon arrival at Oakland. The agent had to solve the problem of the erroneous discharge by getting the refrigerated containers to Seattle as per the…

The role of the P&I correspondent

… the ship's master and the P&I Club member is concerned. The correspondent will handle claims and solve problems, whether or not they will give rise to a claim covered under the P&I Club rules. In order…

ITIC continues to reward loyalty with renewal credit payments to members

… is the absence of shareholders, allowing its members to benefit from any financial surplus.  Solvency II, the new regulatory regime with which all insurers within the EU will have to comply by 1…

Untangling the current Professional Indemnity Insurance Market

… had a widespread affect on the ability of the direct insurance market to provide cover. Insurer insolvencies Whilst the number of insurer insolvencies in recent years has not been as large as was thought…

Chair’s statement

Chair’s statement

… 2025, reviewed the level of ITIC’s free reserves, which are strong and significantly in excess of solvency requirements, and determined that for all renewals in the 2025/26 year, they would pay an enhanced…

Chair's statement 2025

Chair's statement 2025

… 2025, reviewed the level of ITIC’s free reserves, which are strong and significantly in excess of solvency requirements, and determined that for all renewals in the 2025/26 year, they would pay an enhanced…

Lynsey Redgrave

 Lynsey Redgrave

… Controller in 2023.  Lynsey is responsible for management accounts, financial accounts and Solvency II annual & quarterly returns. Prior to ITIC, she worked in the fund management industry,…

Where in the chain does responsibility lie?

… to arrest the Principal's vessel or at least make a claim against the Principal who remains solvent. In other cases the Sub-Agent will face a situation where the Principal has gone into liquidation…

Brokers under pressure on ship valuations in falling market

… to the bank. At the same time, brokers cannot afford to alienate their clients, but the problem can be solved by the broker making it clear to the bank that it may contact the owner.” ITIC has recently been…