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It is a fact that violent crime has significantly reduced over the last few years.  Why is this? Criminals have not changed; they still want to get their hands on your money.  The answer is…

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…

ITIC makes it a condition for its ship management members to be co-assured on the hull and P & I policies of the owner because, in many jurisdictions around the world, ship managers are deemed to…

ITIC regularly deals with claims against ship managers involving the poor condition of a vessel and allegations of how the defects had not been drawn to the owner’s attention. The owner will then…

ITIC is increasingly asked to comment on confidentiality agreements, sometimes known as nondisclosure agreements. The use of confidentiality agreements has always been common when parties are…

Welcome to this special edition of The Wire, which focuses on naval architecture. ITIC hosted an interactive and lively naval architect panel discussion in London on 15th November.  The title…

Welcome to this special ship management edition of ITIC’s electronic newsletter, The Wire, specifically  for ship managers. ITIC is the world’s largest liability insurer of ship, crew,…

Press stories of attacks by hackers are increasingly common but the reported victims are often well-known companies that hold large amounts of credit card and other sensitive personal data. Although…

ITIC has issued several circulars to members since 2015 warning of fraudulent messages altering bank details and the fraudulent diversion of port expenses, which can be seen here. Unfortunately ITIC…

ITIC became aware of a scam which was diverting pre-funded port costs to a fake bank account.  In each case the ship owner due to make the payment received an email advising that the ship…