STATUTES OF THE EAST ASIAN INSURANCE CONGRESS

ARTICLE I: NAME AND SEAT

SECTION I/1:

The name of this Association is East Asian Insurance Congress, abbreviated EAIC.

SECTION I/2:

The headquarters of the Congress shall be where the President and the Secretary- Treasurer are from time to time located.

SECTION I/3:

General Secretariat: The General Secretariat of the East Asian Insurance Congress shall be in Tokyo, Japan, with The Foundation for the Advancement of Life & Insurance Around the world.

 

ARTICLE II: ORGANIZATION POLICY

SECTION II/1:

EAIC is an Association to further and develop international collaboration in all fields of insurance and shall be a non-political, non-governmental, non-religious and non-profit making association.

 

ARTICLE III: OBJECTIVES

SECTION III/1:

EAIC has the following objectives:

(a) To exchange ideas and information on all kinds of insurance among the members;

(b) To foster and encourage mutual understanding and friendship among the members;

(c) To discuss subjects of mutual interest relating to insurance theory and practice with particular application to East Asian economic
conditions.

 

ARTICLE IV: MEMBERSHIP

SECTION IV/1:

There shall be three kinds of membership and their qualifications are as follows:

(a) Regular Members

1. Corporate Members

1.1 Insurance companies authorized, licensed or registered in member cities.

1.2 Companies providing services related to insurance authorized, licensed or registered in member cities.

1.3 Other related organizations such as associations, research or training institutes licensed or registered in member cities.

2. Individual Members

2.1 Individuals resident in member cities affiliated with any organization that would itself be eligible to be a Regular Corporate Member.

2.2 Professors, teachers and researchers specializing in insurance in member cities.

(b) Associate Members

1. Corporate Members

1.1 Insurance companies authorized, licensed or registered in the neighbouring countries.

1.2 Companies with services related to insurance authorized, licensed or registered in the neighbouring countries.

1.3 Other related organizations such as associations, research or training institutes licensed or registered in the neighbouring countries.

2. Individual Members

2.1 Individuals affiliated with any organization that would itself be eligible to be an Associate Corporate Member.

2.2 Professors, teachers and researchers specializing in insurance in the neighbouring countries.

(c) Honorary Members

Government officials related to or associated with the insurance industry in member cities or other persons who are considered to have made valuable contributions to the EAIC and are invited by the EAIC.

 

SECTION IV/2:

Member Cities shall mean the following:

Bandar Seri Begawan, Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Macau, Manila, Phnom Penh, Seoul, Singapore, Taipei and Tokyo.

Neighbouring Countries shall mean the following:

Bangladesh, Bhutan, Fiji, India, Pakistan, Papua New Guinea and Sri Lanka.

SECTION IV/3:

Members shall be admitted by the Executive Board subject to the payment of the membership fee.

Membership is for life as long as the member is residing in a member city.

SECTION IV/4:

All Members are allowed to attend meetings.

However, only regular corporate and individual members shall be entitled to vote on the basis of one member one vote. Associate members may attend meetings but are not entitled to vote.

ARTICLE V: THE GENERAL MEETING

SECTION V/1:

EAIC shall hold a General Meeting at least once every two years. The EAIC shall likewise hold a General Conference to coincide with one of its general meetings in the member city or any other venue chosen by the host city previously selected.

General meetings are for EAIC members only; general conferences are for members and delegates of Asian companies.

SECTION V/2:

The General Meeting has the following tasks to perform:

(a) Decisions concerning the policies and objectives of EAIC;

(b) Ratification of the initial Statutes and subsequent amendments of EAIC;

(c) Decision as to the date, duration and location of the next General Meeting;

(d) Election of an Executive Board consisting of a President, a Vice President, a General Secretary, a Secretary-Treasurer, an Assistant Secretary-Treasurer from the same member city as that of the Vice President, and one member to represent each member city other than those of the President and the Vice President;

(e) Acceptance of annually audited accounts of the General Secretariat;

(f) Presentation of and discussion of papers on insurance topics of current interest to members;

(g) Decision as to dissolution of EAIC;

(h) Decision on any other matter which the Executive Board may refer to it.

 

SECTION V/3:

1.The purpose of a General Conference is the presentation and discussion of papers on insurance topics of current interest to members.

2. Members attending a General Conference shall pay a registration fee in favour of the Organizing Committee of the capital city concerned to cover for all expenses relating to the attendance at the plenary and business meetings, cocktails, luncheons, dinners and other arrangements.

Only full time employees of “related organizations” qualify as regular or associate members by paying the registration fees specified.

Others who are not members will attend as “observers” on payment of a registration fee as specified.

3. The Organizing Committee of the conferences (the Executive Board Meeting, the General Meeting and the General Conference) shall be located in the member city of the Vice President, who comes from the next host city, and the Organizing Committee is fully responsible for the management of the conferences (the Executive Board Meeting, the General Meeting and the General Conference).

SECTION V/4:

All decisions of the General Meeting are taken by a simple majority of the votes of the members present, except as provided in Section X/2. In case of a tie, the motion shall be deemed not carried.

 

ARTICLE VI: THE EXECUTIVE BOARD

SECTION VI/1:

The Executive Board shall possess wide powers and competence in making decisions on the management of the Congress with exceptions of matters which are explicitly specified in other sections of these Statutes to be decided otherwise by a General Meeting.

SECTION VI/2:

The Executive Board has the power to establish standing or ad hoc committees to further the objects of the Congress.

SECTION VI/3:

The Executive Board has the power to designate new dates or venue for a General Meeting and General Conference if unforeseen or extraordinary circumstances make it necessary to do so.

SECTION VI/4:

The past Presidents shall be ex-officio members of the Executive Board, but without vote.
The term of office of the regular Executive Board member shall be from one General Meeting to the next.

SECTION VI/5:

The Executive Board shall normally meet once a year. The time and place shall be determined by the President of the Executive Board.

SECTION VI/6:

All decisions of the Executive Board are taken by a simple majority, provided not less than half of the membership is present. Any member of the Board may designate an alternate to act in his place or stead, if for some reason he cannot be present in a meeting.

 

ARTICLE VII: THE PRESIDENT

SECTION VII/1:

The President shall see to it that all administrative tasks are performed and discharge any other duties assigned to him by the Executive Board.

SECTION VII/2:

In the absence or incapacity of the President, the Vice President shall act in his place.

 

ARTICLE VIII: THE SECRETARIAT

SECTION VIII/1:

The General Secretary shall be responsible for administrative work related to membership, collection of the membership fee, collection and custody of conference materials, and financial matters other than registration fee and expenses borne by the host member cities.

SECTION VIII/2:

The Secretary-Treasurer and Assistant Secretary-Treasurer shall be responsible for other administrative work related to the General Conference and the Executive Board Meeting not mentioned in the above paragraph.

SECTION VIII/3:

Accounts shall be prepared by the General Secretary and audited annually for submission to the General Conference.

 

ARTICLE IX: FINANCES

SECTION IX/1:

Regular Members shall pay a one-time membership fee of US$300 and US$100 for corporate and individual membership, respectively.

Associate Members shall pay a one-time membership fee of US$500 and US$150 for corporate and individual membership, respectively.

 

SECTION IX/2:

Voluntary contributions from membership or insurance institutions may be accepted with the approval of the Executive Board.

 

SECTION IX/3:

EAIC may not incur any debt nor any other obligations for repayment of moneys received, except commitments in normal commercial transactions attendant upon the holding of specific conferences or meetings, the administrative expenses of the Congress, the issuance of particular publications and similar operating activities authorized in a General Meeting or by the Executive Board.

 

SECTION IX/4:

Part of the funds may be used for encouraging research and education in insurance, and the promotion of awareness in economic and social role of insurance upon due approval by the Executive Board.

 

ARTICLE X: OFFICIAL LANGUAGE AND AMENDMENTS

 

SECTION X/1:

For the present, English shall be the official language of the Congress.

 

SECTION X/2:

Any part of these Statutes may be amended at a General Meeting by at least two-thirds vote of the members present.