ITIC boosts 2025 continuity credit to support members amid global economic uncertainty

In a bold show of support for its members during a time of increased global economic uncertainty, International Transport Intermediaries Club (ITIC) is increasing its continuity credit for the 2025 policy year. This strategic move offers meaningful economic relief, rewards member loyalty, and reinforces ITIC’s long-term commitment to retention and its 'members-first' mutual ethos. 

 For the 31st consecutive year, ITIC members will receive a premium credit to be applied against 2025 insurance premiums, under the following structure:

 -       A 35% credit for those members renewing for one year

-       A 45% credit in the first year for those members renewing for two years, with a guaranteed minimum credit of 30% in the second year.

This marks the second-highest continuity credit ever offered in ITIC's 100-year history and represents a significant increase from the previous year’s credit of 20% (one-year) and 30% (two-year).

The increase reflects ITIC’s strong financial position, with combined free reserves exceeding US$260 million across ITIC and its reinsurer, TIMIA. These reserves are well above regulatory solvency requirements, underpinned by sound governance, profitability, and prudent financial management. This financial strength allows ITIC to remain a stable partner for its members.

“We are very pleased to share the news with our members about this year’s continuity credit, which is one of the highest credits ever provided,” said Alistair Mactavish (pictured), Chief Underwriting Officer at ITIC.

“In an increasingly difficult economic landscape, our members can depend on us not just for protection, but for real, measurable support that rewards their loyalty and long-term trust in ITIC,” he added.

Continuity credits have been a hallmark of ITIC’s mutual status, with over US$206 million returned to members to date. These credits directly reduce the cost of insurance and serve as a key incentive for members to remain with ITIC over time, strengthening long-term relationships and aligning the interests of ITIC with those it insures.

The boards of ITIC and ITIC Europe (ITIC’s EEA-based subsidiary insurer) believe that the continuity credit should be the method used to distribute excess free reserves. Furthermore, they are committed to maintaining the continuity credits at a sustainable level for future years.

“The continuity credit increase comes with no general premium rise for the 2025 policy year, highlighting our consistency, reliability, and 'members-first' philosophy,” Mactavish concluded.

With over 3,650 members worldwide, all those who renew within the 2025 policy year will benefit from this capital distribution, further reinforcing ITIC’s role as a true partner to the global transport intermediary community.