An association of independent practitioners. It sets examinations for those engaged in marine insurance as average adjusters. Founded in 1869, it promotes the correct principles in the adjustment of Averages and uniformity among Average Adjusters? The association’s expert committees serve the marine insurance community, and may, by a panel of referees, act as arbitrators in the case of dispute. All members are practising average adjusters. See also UK SOCIETY OF UK AVERAGE ADJUSTERS.

The trade association for insurance companies, whose 400 members transact 95 per cent of the business of UK insurers. It speaks out on issues of common interest, participates in debates on public policy issues and promotes high standards of service. Its policy work centres on: general insurance, life and pensions, financial regulation, taxation and investment affairs. It has expert committees and represents the industry externally, involving central government, media affairs, European and international activities. (www.abi.org.uk).

Trade association for independent financial advisers (IFAs). It is the key point of contact between the IFA community and the FSA. AIFA’s principal objective is to influence the nature and shape of policies affecting its members. It also monitors the regulatory and political issues and keeps members informed as to how those issues will affect them.

A forum for the exchange of data and opinion between insurance and risk managers in industry and commerce. AIRMIC has over 160 corporate members and nearly 1,000 individual members. It updates members on technical matters and current practice. It promotes the under standing of the nature and purpose of risk management and represents a body of informed opinion in dealings with trade and market associations and with government. In 2002 AIRMIC collaborated with ALARM and the Institute of Risk Managers to produce a new Risk Management Standard.

A company formed to improve the understanding of Lloyd’s amongst its members and prospective members.

‘Not for profit’ organisation run for, and by, its membership. ARC began in 1998 as an informal talking shop helping companies manage the tail of their insurance and reinsurance operations in the London Insurance Market. It now has a formal structure, and an active agenda providing information of relevance to its members, colleagues, partners and clients. (www.aroc.org.u

Trade body of unit trusts and investment management companies.