Tag: ITIC

The International Transport Intermediaries Club (ITIC) has forecasted that the cost of the European Union’s (EU's) new Emissions Trading Scheme (ETS) to the shipping industry could be in the billions.

International Transport Intermediaries Club (ITIC) has advised ship managers to be wary of the risks and costs involved with claims of failing to meet contractual obligations.  

The International Transport Intermediaries Club (ITIC), a mutual insurer that provides professional indemnity cover for transport intermediaries operating in the marine, offshore, renewable and aviation industries, has warned stakeholders to ensure measures are in place to cover additional financial obligations when settling unforeseen invoices.

ITIC has reimbursed a ship agent €30,000 after the member had to make a payment on behalf of the carrier for the latter’s liability to a consignee for the total loss of its pastry shipments which were transported at an incorrect temperature due to the agent’s mistake.

Geraldine Koon, a legal advisor at ITIC advises ship managers to stick to the facts in post incident reports 

The International Transport Intermediaries Club (ITIC) has issued a number of warnings on the increasing prevalence of documentation fraud.

International Transport Intermediaries Club (ITIC) highlights the importance of checking the results of crew COVID-19 tests.

In an effort to protect shipowners and operators from cyber-security threats, the International Transport Intermediaries Club (ITIC) urges to don't trust important information to individual emails.

The International Transportation Intermediaries Club (ITIC) alerts members and the shipping industry of the increased reports of fraudulent invoices concerning medical testing services following the COVID-19 (coronavirus) outbreak.

The International Transport Intermediaries Club (ITIC) alerts ship brokers and managers to closely check the terms of their charterparty agreements prior to signing, in order to avoid future mistakes. ITIC pointed out that it has seen a number of claims caused by ship brokers and managers concerning their recollection of a charter party wording, as opposed to checking what the charterparty actually said. On this occasion, ITIC reimbursed the full claim of $150,000.