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LOSS OF COMMISSION COVER One of the additional insurances that ITIC offers to shipbrokers and ship managers is loss of commission insurance when they are not paid commission or fee income arising…

The Club is often asked to distinguish the difference between reasonable endeavours and best endeavours. Where a clause in a contract exists that requires a company to use reasonable endeavours to…

Over the course of the last few years the trend has been for former governmental hydrographic organisations to become privately owned companies, joining the existing privately owned companies in the…

What is a Telex release? A Telex release is the industry term for the release of cargo at one port when the original bill of lading has been surrendered at another. Although this is still referred…

Introduction Directors & Officers insurance (D&O) is a personal insurance purchased by the employer for the benefit of its directors and officers. ITIC’s D&O product protects both…

By Tor Aasberg, Partner, Advokatfirmaet Grette DA, Oslo, Norway 1. Introduction According to the Norwegian Enforcement Code (NEC) and the Norwegian Maritime Code (NMC) a creditor with a maritime…

Whilst incorporating a company may be the easiest way of limiting one’s liability, recent legislation means that the administrative burden of managing a company has got harder. The first Company Law…

ONLINE LEARNING TOOL - THE RISKS INVOLVED WITH BILLS OF LADING ITIC has developed its first online training tool, “The risks involved with bills of lading". ITIC’s Claims Director, Andrew…

I am delighted to introduce this latest edition of The Intermediary. It is designed, as ever, to be informative and practical on the one hand, while remaining straightforward and readable on the…

Sometimes the Club’s surveying members will be asked by the ship owner to sign indemnities, disclaimers, waivers or releases before they perform a job for their principal by the ship owner before the…