ITIC

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.

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

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

• Professional indemnity insurance
• Marine insurance
• Aviation insurance
• Offshore insurance
• Mutual insurance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core 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

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Thomas Miller GroupcoreStrategic or Co-development PartnerITIC 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 ClubcoreStrategic or Co-development PartnerUK 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 ClubcoreStrategic or Co-development PartnerTT 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

Direct 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

• LinkedInlinkedin.com/company/international-transport-intermediaries-club-itic-
• Xx.com/ITICLondon

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ITIC