International Ship Masters' Association

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International Ship Masters' Association
Founded 1886

Established in 1886 as the Excelsior Marine Benevolent Association, in 1893 changed its name to Ship Masters' Association. This was a society among members of the profession, where in case of death of a member the widow or beneficiary would receive $100.00. [1]

A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured.

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