ITIC
ITIC is a UK-based mutual insurer founded in 1926 that provides professional indemnity insurance exclusively to transport professionals across marine, aviation, and offshore sectors, serving 3,650 members in 110 countries.
- Company typePrivate
- Founded1926
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What ITIC does
ITIC is a UK-incorporated mutual insurer founded in 1926 that provides professional indemnity (PI) insurance exclusively to transport industry professionals. It serves 3,650 members across 110 countries, organized around three core product lines: Marine (covering ship agents, brokers, managers, marine surveyors, naval architects, yacht services, claim/loss adjusters, and similar roles), Aviation (aircraft designers, charter brokers, aircraft managers, registries, and surveyors), and Offshore & Energy (offshore and hydrographic surveyors and consultants). As a mutual, ITIC has no external shareholders or underwriters taking profit; premiums are priced at cost and the organization has returned continuity credits to members for 32 consecutive years.
ITIC's operational technology centers on the Thomas Miller Connect portal, which provides 24/7 access to premium balances, full claims data, and account management for both members and the insurance brokers that place business with ITIC. The platform enables brokers to view all accounts placed with ITIC alongside other Thomas Miller Clubs (UK P&I, TT Club), creating an integrated distribution and servicing infrastructure. Supporting knowledge assets include the bi-annual Claims Review publication (54 issues since 1993), The Wire newsletter, The Year Book, an ITIC Insight podcast series, e-learning modules on bills of lading and claims handling, and a library of webinars and standard trading conditions.
The business model is subscription/recurring professional indemnity premiums, billed annually, sourced predominantly through insurance brokers who produce over 88% of annual premium with the remainder via direct enquiries. ITIC operates within the Thomas Miller Group, which provides management services and infrastructure, and is supported by a multi-channel content marketing program (publications, podcasts, webinars, e-learning, industry events) aimed at top-of-funnel engagement with prospective transport professional members.
ITIC firmographics
Firmographics- Name
- ITIC
- Legal name
- International Transport Intermediaries Club
- Website
- https://itic-insure.com
- Company type
- Private
- Founded year
- 1926
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ITIC is a UK-based mutual insurer founded in 1926 that provides professional indemnity insurance exclusively to transport professionals across marine, aviation, and offshore sectors, serving 3,650 members in 110 countries.
- Ownership category
- akta.pro rank
ITIC industry classification
Industry- Product category
- Professional Indemnity Insurance
- NAICS
- Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Marine & Aviation Insurance (FSAJAMAI)
- akta.pro secondary industry
- Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)
Keywords
Where ITIC is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
ITIC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Professional Indemnity Insurance Premiums: ITIC operates as a mutual insurer providing professional indemnity insurance at cost to transport industry professionals. Premiums are collected from members with no external shareholders or underwriters taking profit. ITIC has delivered continuity credits to members for 32 consecutive years.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Quote-based professional indemnity insurance |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
ITIC product offering
Product offeringCore offering
ITIC provides professional indemnity insurance at cost to transport industry professionals across marine, aviation, and offshore and energy sectors. The company operates as a mutual insurer with no external shareholders or underwriters, serving 3,650 members across 110 countries. ITIC delivers 32 consecutive years of premium continuity credits back to members, with coverage tailored for ship agents, ship brokers, ship managers, marine surveyors, naval architects, aircraft designers, air charter brokers, and offshore and hydrographic surveyors and consultants.
Product overview
ITIC offers a comprehensive professional indemnity insurance portfolio for the global transport industry, structured as a mutual insurer with no external shareholders. The core offerings consist of professional indemnity coverage across Marine, Aviation, and Offshore & Energy sectors, with various sub-categories covering specific professional roles. ITIC serves 3,650 members across 110 countries. The company provides the Thomas Miller Connect online portal for 24/7 access to claims and premium management. Educational and informational resources include the Claims Review publication, The Wire newsletter, The Year Book, and e-learning modules covering industry-specific topics. The company operates with over 88% of annual premium produced through insurance brokers.
Differentiator
Problem solved
Functional benefit
Products and services
- Professional Indemnity Insurance - Marine Professional indemnity insurance coverage for marine transport professionals including ship agents, ship brokers, ship managers, marine surveyors, naval architects, cargo forensic analysts, claim and loss adjusters, expert witnesses, managers of mutuals, marine consultants, marine registries, new building supervisors, shipping pool managers, and yacht services (yacht brokers, yacht designers, yacht managers).
- Professional Indemnity Insurance - Aviation Professional indemnity insurance coverage for aviation professionals including aircraft designers, air charter brokers, aircraft managers, aviation registries, aviation surveyors, and other aviation professionals.
- Professional Indemnity Insurance - Offshore & Energy Professional indemnity insurance coverage for offshore and energy sector professionals including offshore and hydrographic surveyors and offshore and hydrographic consultants.
- Additional Cover Additional insurance products and extensions beyond the core professional indemnity coverage for transport professionals.
- Thomas Miller Connect Online portal providing 24/7 access to premium balances and full claims data for ITIC members and insurance brokers to view claims and premium records, accessible on any device. Insurance brokers can access all accounts they place with ITIC alongside other Thomas Miller Clubs (UK P&I and TT Club).
Quantifiable outcome
- 32 consecutive years of premium credits returned to members
Companies that use ITIC
Customer profileSegments4 records
Ideal customer profiles4 records
ITIC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ITIC partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Thomas Miller GroupcoreITIC is managed by Thomas Miller, part of the Thomas Miller Group which includes multiple insurance P&I clubs and service companies. Thomas Miller provides management services and infrastructure including the Thomas Miller Connect portal for ITIC members.
- UK P&I ClubcoreUK P&I is part of Thomas Miller like ITIC. Insurance brokers can access accounts they place with ITIC along with other Thomas Miller Clubs including UK P&I and TT Club through Thomas Miller Connect.
- TT ClubcoreTT Club is part of Thomas Miller like ITIC. Insurance brokers can access accounts they place with ITIC along with other Thomas Miller Clubs including UK P&I and TT Club through Thomas Miller Connect.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
ITIC competitors and assessment
Company assessmentDirect peers
- Hiscox: Lloyd's-based specialty insurer with a large professional indemnity book serving professionals and SMEs. Comparable in providing specialist PI cover and competing for the same professional liability risk pool.
- TT Club: Thomas Miller-managed mutual providing liability and asset insurance to the international transport and logistics industry. Closely comparable to ITIC in mutual structure, transport focus, and Group-level distribution dynamics.
- UK P&I Club: Sister mutual club under Thomas Miller Group providing marine liability cover to shipowners. Highly comparable as a Thomas Miller-managed mutual serving transport industry clients, sharing the same management infrastructure and Connect portal.
- Markel International: Specialty insurer within Markel Group writing professional indemnity and marine/specialty lines. Comparable in providing PI cover across professional and marine niches.
- Beazley: Lloyd's-listed specialty insurer with a significant professional indemnity franchise. Directly comparable in underwriting specialist PI risks for professional services firms.
Emerging players
- Gard: Leading P&I club serving shipowners and energy operators. Comparable as a specialty marine insurance mutual, though focused on hull/P&I rather than professional indemnity for intermediaries.
- Skuld: Norwegian-based mutual P&I club for shipowners. Comparable as a specialty marine insurance mutual, though different buyer (shipowners vs. transport intermediaries).
Broad incumbents
- Allianz Global Corporate & Specialty: Global corporate and specialty insurer (part of Allianz Group) underwriting marine, aviation, and professional lines. Comparable as a broad incumbent serving similar transportation and professional liability clients.
- Liberty Specialty Markets: Global specialty insurer (part of Liberty Mutual) writing marine, aviation, and professional indemnity lines. Comparable as a broader incumbent with overlapping specialty lines.
- Lloyd's of London: Specialty insurance market where many syndicate-level peers compete for marine and aviation PI risks. Comparable as the broader marketplace where ITIC-class specialist PI coverage is transacted.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
ITIC social profiles
Digital presenceITIC financial estimates
Financial estimateRevenue estimate
Valuation estimate
ITIC leadership team
Management profileNumber of profiles
ITIC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ITIC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ITIC
What does ITIC do?
ITIC provides professional indemnity insurance at cost to transport industry professionals across marine, aviation, and offshore and energy sectors. The company operates as a mutual insurer with no external shareholders or underwriters, serving 3,650 members across 110 countries. ITIC delivers 32 consecutive years of premium continuity credits back to members, with coverage tailored for ship agents, ship brokers, ship managers, marine surveyors, naval architects, aircraft designers, air charter brokers, and offshore and hydrographic surveyors and consultants.
Is ITIC a public or private company?
ITIC is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was ITIC founded?
ITIC was founded in 1926. It employs 11 to 50 people.
Where is ITIC based?
ITIC is headquartered in London, United Kingdom, in the Europe region.
How does ITIC make money?
One revenue line is on record: professional Indemnity Insurance Premiums.
Who are ITIC's main competitors?
Direct peers on record are Hiscox, TT Club, UK P&I Club, Markel International and Beazley. Emerging players are Gard and Skuld. Broad incumbents are Allianz Global Corporate & Specialty, Liberty Specialty Markets and Lloyd's of London.
Does ITIC have an API?
No public API is recorded for ITIC.
What industry is ITIC in?
ITIC's product category is Professional Indemnity Insurance. Its primary akta.pro industry code is FSAJAMAI, Marine & Aviation Insurance, with a secondary code of FSAJAGAJ, Marine Specialty (Hull/P&I/Cargo). Its NAICS code is 5241 and its SIC code is 6331.