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Specialist Mutual Insurer News

10 Oct 2003

ITIC Warns Agents to Beware Crew Smugglers

immigrants by pretending they are joining crew. insurer of transportation professionals. of the leading shipping companies in Bangladesh". Argentina, Chile, Ecuador, Peru and Uruguay. of their choice. joining crew from the Indian subcontinent. smugglers $1,000. into thinking they were getting a well-paid job on a foreign-flag ship. local ship agents $50,000 in repatriation expenses. vigilance. massive waste of time and effort. latter is not.

02 May 2002

Put it in writing, warns ITIC

Intermediaries Club (ITIC) in its latest Claims Review. units to be transported by his principal's service to Panama. underdeck stowage for the switchgear, he failed to confirm this in writing. The units were stowed on deck and suffered wet and rust damage. for $900,000 plus interest and costs. was contributed by the in-house ship agent. he said on the telephone in writing, this claim would not have been pursued. their own standard trading conditions. Felixstowe. During trucking, the cable struck the underside of a bridge. it was put on the ship. presented to the line. pre-carriage. confirmation and was able to limit his liability. consequential losses too. industry. It is managed by ITIM Co Ltd, a Thomas Miller company.

25 Apr 2002

ITIC Bucks Trend with Continuity Credits

At a time of great volatility and significant rises in premium costs in international marine insurance and reinsurance markets, the International Transport Intermediaries Club (ITIC) has yet again demonstrated the advantages of insuring with a specialist mutual insurer. For the seventh consecutive year, not only is there no general increase in premium, the club is also giving its renewing members continuity credits of up to 15 per cent. The credits, which range from 5 to 15 per cent depending upon the length of membership, claims record and renewing period, are a unique feature of a mutual club. "With no shareholders to satisfy, we are able to offer some of the most competitive insurance in the market.