Who We Are

About the Canadian Board of Marine Underwriters

Founded in 1917, The Canadian Board of Marine Underwriters (CBMU) has always been an active force in representing the goals and interest of the Marine Insurance Industry in Canada.

Almost certainly one of Canada’s oldest associations, the CBMU was originally headquartered in Montreal, moving to Toronto in the 1970’s. With a long history of emphasis on trade policy, legislation, loss prevention and ship building maintenance, the CBMU has moved with the times and as we enter the 21st century the importance of education and communication have been identified as a key priorities.

CBMU representatives are also extremely active on the international scene. Through continual contact with its counterparts around the wold, the CBMU contributes its knowledge, experience and support. In particular, members work closely with the Associations representing the London market, the American Institute of Marine Underwriters, and the International Union of Marine Insurance (IUMI). Past CBMU President, Maurice Jaques, was the first member from North America to serve in the coveted and high profile position of IUMI president. Current national director Art Payne, now serves on the IUMI Executive. The CBMU also typically has two members serving on IUMI International technical committees.

The CBMU has three stated AIMS:

1. To procure and disseminate information of interest to marine underwriters.
   
2. To facilitate the exchange of views and ideas which work to improve the marine underwriting industry and marine insurance in general; and
   
3. To promote and protect the interests of the underwriting community in general through various activities.

Membership in the CBMU is open to companies underwriting marine insurance in Canada. Associate memberships are extended to brokers, surveyors, maritime lawyers, government representatives, and others with a vested interest in marine insurance.

CBMU Members are expected to abide by an unwritten, but demanding Code of Ethics & Standards, which includes:

• Providing professional and expert advice;
  
• Dependable and ethical conduct;
  
• Efficient service;
  
• Continual awareness of loss prevention;
  
• Working with insured companies to minimize future losses;
  
• Encouraging education, information exchange and the continual development of the marine industry;
  
• Supporting the work of the CBMU.

Within Canada, the CBMU has a close relationship with the federal Government, particularly Transport Canada; and with the Canadian Maritime Law Association. These relationships enable the CBMU to comment on proposed changes to legislation with affect the marine industry.

The CBMU also works closely with other industry-related groups including the Marine Insurance Association of B.C., the Canadian Coast Guard and the Association of Average Adjusters of Canada. It is through these and numerous other relationships that the CBMU is able to maintain a solid understanding of the issues and opportunities confronting the Canadian Marine industry.