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The regulatory framework in shipping continues to be ever more complex. As a result, ITIC has seen an increase in claims from the owner against the ship manager. Although a manager must be named as…

ITIC has dealt with claims where commercial managers have ended up making good the financial default of the charterers who hired their principal’s vessel.  The starting point, as with most ship…

Claims for negligence or errors or omissions can be devastating for ship managers and, if they are unprepared, can ultimately affect them in more than a financial sense. They can damage reputations…

The increased incidence of fraud – and how to detect, minimise and prevent it – has been the focus of extensive recent discussion in the maritime sector. Cyber-crime has dominated much of the debate,…

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, commercial,…

ITIC is the leading provider of professional indemnity insurance to superyacht professionals, insuring more than 150 companies worldwide. The team at ITIC has a complete understanding of the risks,…

A yacht broker was the central agent for a yacht moored in the USA. During a pre-purchase survey, the engine’s RPM was lower than it should have been. The owner decided to remedy this by…

An agent was appointed by the owner of a sailing super yacht calling at a Mediterranean island. The owner required two spinnakers to be taken off the yacht and forwarded for repairs at another…

A film production company chartered a yacht for a one-day photo shoot. The charterer needed to land a helicopter on the yacht as part of the filming requirements. Unfortunately, the yacht’s…

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…