Clauses approved by a Committee of Company and Lloyd’s underwriters as standard clauses for use in the Marine Insurance Market and published by the Institute of London Underwriters. At the end of 1998 the ILU merged with LIRMA (the London Insurance and Reinsurance Market Association) which was the trade association acting for non-marine insurance companies. This move was driven by companies who wrote both marine and non-marine business and saw the value in having one trade association to represent them and to act as an administrative and policy signing and accounting bureau. Thus the IUA (the International Underwriting Association of London) was set up on 1 January 1999 and all the ILU’s then members ceased their membership of the Institute and became members of the IUA.
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UK: Institute Freight Clauses Apply a 3 per cent franchise to all partial loss claims, other than those for general average.
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UK: Standard sets of clauses drafted by the Technical and Underwriting Committee chaired by the International Underwriters Association of London. They are used in the main forms of marine insurance and air cargo insurance written in London and beyond. The clauses often override the provisions of the Marine Insurance Act 1906 and, when added to the MAR 91 form, they govern the extent of the insurer’s risk. The current Institute Cargo Clauses were introduced on 1 January 1982. The most recent International Hull Clauses date from 1 November 2002.

Cover for Fishing vessels/Trawlers may be granted under limited conditions such as TL/CTL including Salvage charges and Sue and Labor by amending the IFVC suitably. For a comprehensive cover the IFVC dated 20.07.1987 is to be used. (a) Navigation and Removals Ashore Clause: The vessel is allowed to sail and navigate with or without pilots, go on trial trips and assist and tow vessels in distress. It is however warranted that with the exception of the catch (fish caught) the vessel shall not carry other cargo or containers for the carriage of the cargo. The insurance covers the vessel whilst ashore for repair, overhaul or refitting. If the vessels sails with the intention of being broken up or sold for that purpose, any claim for loss/damage to the vessel occurring shall be limited to the market value of the vessel as scrap, unless previous notice is given to underwriters and alternative terms are agreed.

IAI is a professional body established by converting the then Actual Society of India by way of enactment of the Actuaries Act, 2006. IAI is having a statutory character on the same lines as those for the professions of Chartered Accountants, Cost and Works Accountants and Company Secretaries The Objects of the IAI: To promote, uphold and develop the standards of professional education, training, knowledge, practice and conduct amongst Actuaries;To promote the status of the Actuarial profession;To regulate the practice by the Members of the profession of Actuary;To promote, in the public interest, knowledge and research in all the matters relevant to Actuarial Science and its application; andTo do all such things as may be incidental or conducive to the above objects or any of them.Institute for Global Insurance Education (IGIE) : The concept of an international insurance educational institute was discussed among leaders in the field of insurance education in 1996. It was felt that a common set of standards was required for all insurance professionals. Accordingly, Institute for Global Insurance Education was set up in January 1997. IGIE is an association comprised of independent, international insurance institutes who are united by a common goal: to deliver professional education to insurance industry professionals. IGIE offers two courses that provide students with a basic knowledge of non-life and life insurance. Although, these courses do not lead to any professional designation, employment or licensing they do allow students to gain a basic understanding of insurance. Institute of Insurance Surveyors and Loss Assessors (IIISLA) : The Indian Institute of Insurance and Loss Assessors is established under Section 25 of the Companies Act 1956 on 4 th October 2005. The main objects for creation the IIISLA were: To promote quality in profession of Surveyors and Loss Assessors through education and training facilitate introduction of best practices amongst its members and to disseminate technical information amongst its members to upgrade their skill and knowledge.To conduct Professional examinations relating to the profession of Surveyors and Loss Assessors.To promote research and studies in loss control and minimization techniques and measures and share the same with Insurance Industry and general public and to update its members on application of new technologies for improving service to the users and consumers.To bring out guidance notes, instruction manuals, periodicals for the use and benefit of members and others connected with the profession of surveyors and loss assessors. (5) To develop and administer code of conduct and ethics from time to time with the concurrence of the IRDA and ensure compliance of the same by its members and also ensure that the members maintain/adhere to high standards of integrity, transparency, discipline, and professional conduct. In addition, To organize, present, manage, superintend, conduct and participate at any place or places talks, lectures, seminars, conferences, and other educational and professional development functions on insurance or other appropriate or insurance related subjects like loss mitigation, loss prevention, loss assessment, and risk management and to establish, promote and maintain libraries, and reading and writing rooms, and to furnish the same respectively with books, reviews, magazines, newspapers and other publications; and to issue, print, publish and/or sell any publications, newspapers, periodicals, magazines, books, reports or leaflets that the company may think desirable for the promotion of its objects and diffuse among its members of the profession of surveyors and loss assessors information on all matters affecting the profession of surveyors and loss assessors, and to improve and elevate the technical and general knowledge of persons engaged in or about to engage in the profession of surveyors and loss assessors or any employment in connection therewith.Institute of London Underwriters : Formed in 1884 in London the Institute holds a dominant place among marine Underwriting associations. It fostered market agreements and in general provided a forum for discussion on marine Insurance problem on national or international level. The objects of the Institute were the advancement of marine Insurance and the protection of the of the interest of companies Writing marine business by consultation and united action. The Institute was responsible for standardization of marine Insurance clauses, a matter which was delegated to the Technical and Clauses Committee, which worked in association with Lloyd’s Underwriters Association and other interested bodies. At the end of 1998 the ILU merged with LIRMA (the London Insurance and Reinsurance Market Association) which was the trade association acting for non-marine insurance companies. This move was driven by companies who wrote both marine and non-marine business and saw the value in having one trade association to represent them and to act as an administrative and policy signing and accounting bureau. Thus the IUA (the International Underwriting Association of London) was set up on 1 January 1999 and all the ILU’s then members ceased their membership of the Institute and became members of the IUA.

IFBI has been a pioneer in the Banking, Financial Services and Insurance education and training space in India since 2006. Established by Global Talent Development Company NIIT in association with ICICI BANK, IFBI Today works with multiple partners – for placement and for corporate solutions and also offers programs for a variety of student segments – whether it is graduates seeking banking or insurance careers or banking professionals looking to upgrade their knowledge.

A part of the American Council of Life Insurance, which originated as an agency tasked with building the reputation of life insurance.