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.
In the latest edition of its Claims Review, published bi-annually, ITIC shared a case study where a ship was arrested to force the ship owner to compensate their agent for unpaid debts for a tug owner’s services during previous rescue efforts of a different ship within its fleet.
The ship owner, whose ship experienced difficulties in the Atlantic, requested a shipping agent to arrange tugs to attend to the ship. The agent arranged for tugs to participate in the ship’s rescue, but the ship subsequently sank.
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