UK insurer International Transport Intermediaries Club (ITIC) has warned shipping players to have adequate cover following a pay-out to a tug operator involved in a salvage operation.
The mutual insurer is advising stakeholders to ensure measures are in place to cover additional financial obligations when settling unforeseen invoices.
In the latest edition of its six-monthly Claims Review round-up, ITIC detailed a case in which an unnamed ship was arrested to force the owner to compensate its agent for unpaid debts for a tug owner’s services during previous rescue efforts of another of its vessels.
