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In the current market it is inevitable that some principals will simply be disappointed by the broker’s view of what their ship is likely to obtain. The fall in values may create issues due to the

One of the benefits of insurance with ITIC is the cover provided for defence costs.  As a naval architect you could receive a claim from a vessel owner for a case you worked on even if you were

The volume of emails received by some shipbrokers is simply staggering. The missing of time sensitive messages, out of the hundreds received daily, is a major source of claims against

A firm of naval architects were instructed to design a vessel to be used for a new ferry service. When completed, the owners alleged that the vessel suffered from structural inadequacies, which

An architect was contracted to design the hull and rigging for a new yacht. Another naval architecture firm was contracted to design the interior. The yacht was completed and delivered

ITIC insures over 70 P&I club correspondents globally. We are aware that at least one International Group club is considering that all their correspondents obtain professional indemnity

A yacht broker and manager acted for a client who wanted to purchase a yacht for family use but which he would also be able to charter out commercially.  The client became interested in a yacht

Often ITIC’s surveying members are asked by ship owners, with whom they have no contract, to sign an indemnity, disclaimer, waiver or release in favour of the ship owner, before they are granted

Standard Terms and Conditions for Marine Surveyors and Consultants ITIC has published a set of standard terms for general interest of members of ITIC that can be found here. Almost all cargo

ITIC is often asked by ship managers to comment on the wording of a “ship manager undertaking” or “letter of undertaking” (LOU) which they have been asked to sign. This is a situation which has