a) The Council
The Council is formed by delegations consisting of no more than four members from each of the Member Associations. It makes decisions on matters of general policy and each year it elects the President and the Vice-Chairmen who form the Executive Committee. The Council meets once a year. 

b) President and Executive Committee
On election the President of IUMI automatically becomes Chairman of both the Council and the Executive Committee, and presides over all IUMI meetings. He is also an ex-officio member of all Technical Committees. The President has the authority to sign for and on behalf of IUMI and coordinates all its activities.
The Executive Committee, which is voluntarily offering its services, is responsible for the administration and management of IUMI in accordance with the general policy determined by the Council. The Executive Committee appoints the General Secretary, the Liaison Officers and Observers and the Chairmen of the Technical Committees. The Executive Committee is limited to six vice-Chairmen.

c) The Nominating Committee
The Nominating Committee has between 5-9 members, each of whom is appointed by the President from a different Member Association. The purpose of this Committee is to nominate candidates for the Presidency of IUMI and for the posts of the Vice-Chairmen.

d) The Secretary General
The Secretary General is responsible for the administrative and financial requirements of IUMI and assists the President and Executive Committee in operating the Association.

e) The Technical Committees
The Technical Committees deal essentially with identified areas of interest to the marine insurance industry.
Each Technical Committee is composed of representatives of at least three Member Associations designated by the Executive Committee. The individuals who serve on these Committees are appointed by their respective Member Associations.

At present IUMI operates the following permanent Committees:
- Cargo
- Loss Prevention
- Ocean Hull
- Energy and Offshore
- Legal and Liability
- IFY
- Facts and Figures

These Committees follow trends and developments within their respective areas, analyse markets, insurance cover and clauses, losses and loss patterns, loss prevention and current and proposed legislation.
Ad-hoc Committees are also set up as specific needs arise.

f) Liaison Officers & Observers
IUMI's role as an international organisation within the framework of today's complex marketplace with its interwoven interests of ship owners, shippers, charterers, Classification Societies, traders etc. has led to further connections and close cooperation with governmental and non-governmental organisations and agencies.

As a result, during the post-war period IUMI has considerably strengthened its ties with bodies such as UNCTAD, ICC, CMI, IMO, ICS, IACS etc. by appointing Liaison Officers and Observers who closely follow the operations of these organisations and report back to the Council.