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How to become a member of ICMIF PDF Print

To apply for membership of ICMIF please email the Chief Executive, This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Please attach your latest Accounts and Balance Sheet information.

When making application for membership of ICMIF this will, on membership being granted, provide automatic membership of the appropriate regional association.

Once an application for membership has been received this will be reviewed by the Executive Committee which meets regularly. Their decision is then endorsed by the Board of Directors at its annual meeting.

Membership fees

Membership fees are invoiced annually and are payable direct to ICMIF. Regional association fees are also invoiced annually but are payable direct to the regional association.

ICMIFAAC/MISAOAAMENA
Fee rate 20 per million 12 per million 2 per million tbc
Minimum fee GBP 500* USD 500 JPY 5,000 tbc
Maximum fee GBP 99,000* USD 25,000
40% of total fees tbc
Microinsurance rate GBP 50 tbc tbc tbc
Payable in USD/EUR/GBP/JPY USD JPY tbc

*Converted from Swiss Franc equivalent

The fee process

The ICMIF membership fee is calculated taking into account the following parameters:

  • Fees are calculated based on the applying organisation’s net written premium income (NWP) for the financial year ended in the penultimate year before fees are due (eg, fees for 2007 are based on financial year ended in 2005).
  • Fees are calculated on the member’s NWP in appropriate local currency multiplied by the fee rate (currently 20 per million). ICMIF will work with the prospective member to ensure that the calculation of fees is correct.
  • Fees are payable in the member’s nominated currency chosen from USD, JPY, EURO or GBP, before April 1 each calendar year.
  • Fees are invoiced in the member’s own currency and it is the responsibility of the member to make appropriate arrangements to transfer their fee to the relevant ICMIF bank account.
  • It is the member’s responsibility to use the amount due in appropriate local currency to buy the chosen currency of payment, that payment representing the full fees due to ICMIF.

ICMIF funding

ICMIF is primarily funded through its membership fees but with additional services, such as conferences and training, being offered and for which a delegate fee is charged to members.

For further information contact Shaun Tarbuck   
Last Updated on Friday, 03 September 2010 11:07
 

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