International Transport Intermediaries Club Limited
International Transport Intermediaries Club Ltd. - ITIC - is a mutual insurance company with over 80 years of experience of providing professional indemnity insurance to companies involved in the transport industry. Naval architects bring together many skills in the delivery of an extremely high profile service. The stakes are often extremely high, which means that the downside can be disastrously low if mistakes creep in.
Human error can happen, and when it does the claims can be expensive. ITIC has covered claims against naval architects arising from such errors as:
- Inadequate welding design causing ships to crack;
- Yacht design that leads to cracks in the hull as a result of an error in transposing the design specifications onto the blueprint drawings;
- Erroneous conceptual design, inadequate preparation of technical specifications, design approval incorrectly given.
You don't have to make a mistake to be sued. As a naval architect you could receive a claim from the owners of a vessel you worked on even if you were not negligent in your design. One of the functions of ITIC insurance is the cover of defence costs, which can be extremely high. ITIC's claims team has a wide knowledge of claims made against naval architects.
Address: 90 Fenchurch Street
Tel: +44 20 7204 2074
Fax: +44 20 7338 0151
Contact: Robert Hodge