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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…

An owner of a superyacht asked a yacht manager as a favour to recommend a Master for an upcoming charter. The yacht manager hoped to acquire the management of the yacht. No formal contract was in…

The air charter broking industry can often be a little confused when it comes to working out the broker’s role in the chartering arrangement. In legal terms, an intermediary is an agent who arranges…

An aviation charter broker (Broker) had arranged a long running contract between the operator of an aircraft (Operator) and their flying customer (Charterer), who required flight services to move…

The air charter broking market is largely unregulated, which causes it to stand apart from the vast majority of other aspects of aviation. Unlike its marine equivalent, there are no standard charter…