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17/04/2013
Getting more from ITIC is not all about insurance. ITIC also provides a wealth of loss prevention advice through the website, seminars and the ITIC publications of the Claims Review, Wire and Circulars. We also provide seminars to groups of Members, or in-house training to individual Members and insurance brokers. All this for no additional premium.
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 individual directors from claims against them in person and also the company that has to indemnify these senior staff.
16/04/2013
ITIC provides the most comprehensive errors and omissions insurance for businesses involved in the transport industry worldwide. ITIC also offers a range of additional covers which complement the core cover. This Claims Review has been produced to illustrate the types of claims that are paid within these additional insurances to give you the opportunity to consider how your business could benefit.
Loss of management fee covers the non payment of management fees as a result of the termination of a ship management contract through actual or constructive total loss of the ship under management. Some ship management contracts will provide payment for a short period of continued employment for the manager but will not replace the lost fees beyond that work, which is what the ITIC loss of management fee insurance has been designed to cover.
18/03/2013
A vessel loaded a cargo of bulk wheat in the UK. The shippers were a large trading company.
A chartering broker arranged a fixture for a voyage from the Black Sea to Singapore.