Latin American Association of Marine Underwriters – ALSUM

Introducing ALSUM

Specialized, dynamic and sustainable underwriting.

The mission of the ALSUM foundation is to raise the standards of marine insurance underwriting  or cargo transportation in the region, through knowledge (information, discussion and education) and taking as a reference the professional practice of the most advanced markets in the world, without neglecting the reality of the Latin American environment.

ALSUM’s vision for 2019 is to consolidate its position in Latin America as the largest source of information and knowledge on marine insurance, the most prestigious entity in recommending standards, risk management practices, clauses and regulation and the most accepted and recognized certificate of suitable marine insurance underwriters in the region.

Why ALSUM?

Globalized market, competitiveness, innovation and high standards.

In the digital age, easy access to information and communications, have made evident the lag which in terms of knowledge has the marine insurance underwriting in Latin America, in comparison to the highest international standards.

This reduced knowledge hinders innovation and the development of sustainable growth strategies, which may affect the market share of insurers in the region, even more when new technologies and better logistic practices are transforming the risk inherent in the cargo transportation, propitiating the demand for new insurance schemes with more and better added values.

ALSUM emerges as a response to the information and training needs of the region; as a vehicle of knowledge and as a benchmark for standardization, with the aim of facilitating the transit of Latin America towards a world-class marine insurance underwriting.

History

The ALSUM project was consolidated on May 6, 2011, when in the offices of AIG in Miami, Gabriel Fábrega, Xavier Pazmiño, Mauricio de la Guardia, Erika Schoch, Fabricio Campos, James Garcia, Mará Fernanda Alonso, David Goldbaum, Rodrigo Amengual and Leonardo Umaña met and developed the first strategic planning exercise that allowed the drafting of the Association’s statutes.
The Latin American Association of Maritime Underwriters – ALSUM – was conceived as a non-profit foundation, capitalized by insurance and reinsurance companies with a presence in Latin America, of national and multinational capital.
The ALSUM Foundation is an organization dedicated to providing information, training courses, accreditation exams and discussion scenarios to the community of marine insurance underwriters in Latin America. ALSUM’s services also extend to insurance and reinsurance brokers, adjusters, risk managers, lawyers, logistics operators and in general to all those companies or professionals interested in the cargo transportation and logistics business and their insurance.
ALSUM has the approval of several associations of insurance companies such as the International Union of Marine Underwriters – IUMI, based in Germany; The Argentine Association of Insurance Companies – AACS, The Association of Insurance Companies of Chile – AACH; The Association of Private Insurers of Costa Rica – AAP; The Panamanian Association of Insurers – APADEA; The Mexican Association of Insurance Companies – AMIS; The Peruvian Association of Insurance Companies – APESEG; the Federation of Colombian Insurers – Fasecolda, the Ecuadorian Federation of Insurance Companies – FEDESEG  and the Inter-American Federation of Insurance Companies – FIDES.
In 2016, the Board of Directors decided to open a legal operation in Colombia, under the name of ALSUM Colombia Foundation, with the same Statutes and Bodies of the parent company in Panama.