Membership Categories
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The Association is a not-for-profit organisation and is now in its sixth year as a fee charging membership group. Fees for 2007/8 are £1500 + VAT for the main classes of membership and £500 +VAT for "Small Interested Parties". There is no charge for Affiliate Membership.
There are 5 membership categories, explanations of which are set out below. Membership is on a Company basis and whilst one representative is requested as a main contact, there are no limits to the number of the members employees that may make use of the Association.
There are the following categories of membership of the Association:
- Full Member
- Service Provider
- Affiliate
- Interested Party
- Small Interested Party
Full membership of the Association shall be open to those companies that have assumed insurance or reinsurance liabilities that are now in legacy management.
Service Provider membership shall be open to companies that provide legacy management administration services to at least one Company that fulfills the criteria for Full membership of the Association, whether or not that Company is in fact a Full member of the Association.
Affiliate membership of the Association shall be open to companies that have assumed insurance or reinsurance liabilities that are now in legacy management, that are not Full members of the Association and whose interests are represented by a Service Provider member.
Interested Party membership shall be open to all companies having more than 10 (ten) employees that do not fulfill the membership criteria for any other category of membership of the Association, or that do not wish to be considered for such other categories of membership.
Small Interested Party membership shall be open to all companies having fewer than 10 (ten) employees that do not fulfill the membership criteria for any other category of membership of the Association, or that do not wish to be considered for such other categories of membership.
Membership of the Association shall not be open to companies that are, or are controlled by companies that are, registered with the appropriate authorities as insurance or reinsurance brokers except in the category of Interested Party or Small Interested Party.
Membership in any category of membership shall be subject to fulfillment of the applicable membership criteria, completion and return of an acceptable application form and payment of the appropriate subscription fee laid down from time to time by the Board.
The Association in general meeting may, by vote of three quarters of its voting members and for good reason, terminate the membership of any member forthwith provided that the company or individual concerned shall have the right to be heard at such meeting before a final decision is made.
