For almost a century (from before 1919), ABAM BVT (Koninklijke Belgische Vereniging van Transportverzekeraars / Royale Association Belge des Assureurs Maritimes ) has been the professional association of the Belgian transport insurers and represents today almost 90% of the Marine & Transport Insurance market.
The association has effective members i.e. insurance companies and general underwriting agencies and affiliated members. (e.g. brokers, surveyors, lawyers, etc. involved in marine business). Only the effective members have a seat in the General Assembly.
The association is managed by a Board of Directors, which consists of 4 delegates from the effective members. The daily management of the association is entrusted to a Secretary General. Technical and legal matters are supervised by an advisor.
There are also 5 technical divisions (Cargo, CMR (road carriers' liability), Hull, Data Exchange and Legal & Compliance) comprised of delegates from the effective members.
Services to members
ABAM BVT promotes the quality and knowledge of Marine & Transport Insurance and ensures a practical support is provided for all members and the wider Marine insurance community.
This includes :
- The yearly presentation of market statistics
- The publication of standard insurance conditions
- The representation of the transport insurers towards national and international authorities/associations
- The organization of courses with regard to transport insurance
- Permanent forum for contact with brokers and other interested parties
Representation on(inter)national level
The (inter)national image of members has developed strongly over recent years.
ABAM BVT is an active member of IUMI (International Union of Marine Insurers) and has a representative in almost all committees of IUMI.
ABAM BVThas a close relationship and cooperation with Assuralia on a number of subjects, e.g. taxes on transport insurance premiums, anti-theft devices for vehicles, etc..
ABAM BVT organizes on a regular basis several courses in respect of transport insurance, sometimes in cooperation with other associations. The next series of courses is planned for 2010.
To become an effective member of ABAM BVT, one has to apply for membership. The Board of Directors will ask for some information, in order to submit the candidature to the approval of the General Assembly.
The main conditions to become effective member are :
- To be established as an Marine Insurrer in Belgium
- To be accepted by FSMA
- To sign the statutes and the internal regulations for agreement
- To provide annually individual statistics for the production of market statistics (these individual statis
- tics are dealt with by the Secretary General on a strictly confidential basis
- To pay an annual membership fee
To become an affiliated member of ABAM BVT, one has to apply for membership, the application being considered by the Board of Directors.
The main conditions to become an associated member are:
- To exercise a profession linked to maritime insurances
- To sign the statutes for agreement,
- To pay an annual membership fee (the current membership fee amounts to EUR 200,00)