FERMA Newsletter N°61



Federation of European Risk Management Associations (FERMA)

Newsletter N°61

 September 2014


FERMA President's blog


Julia Graham

Welcome to all of the readers of the FERMA Newsletter - I cannot believe that almost a year has passed since our successful Forum in Maastricht!


We have been busy at FERMA working with our associations, their presidents and members. As President of FERMA, I have enjoyed meeting members of associations in France, Malta, Italy, Slovenia, Spain, Sweden, Turkey, UK, and shortly in Switzerland and Poland. I made a promise to meet as many associations as I could and I remain committed to visiting all of them at some stage during my two years.


Read the full article in the Newsletter


Seminar risk manager numbers high - and rising


With more than one month to go, risk manager registrations for the 2014 FERMA Seminar had already topped 160, more than the previous Seminar held in Versailles in 2012, and more expected over the coming weeks.


The risk managers come from a variety of business sectors including aerospace, telecoms, iron and steel, energy, utilities, power, logistics, IT, financial services and non-profit organisations. The biggest delegations so far are from Airmic, AMRAE, BELRIM, the host country, and NARIM.

Total registrations, including sponsors, non-members and academics, bring the total number to more than 250 expected at the Seminar on 20 and 20 October in Brussels.

FERMA project manager Véronique De Hertogh notes that some of the breakout sessions are nearly fully booked and she urges risk managers to register and choose their sessions as soon as possible.


Read more about the Seminar in the Newsletter


FERMA's survey results support risk leaders


The 7th FERMA Risk Management Benchmarking Survey provides evidence that risk managers are becoming risk leaders, says FERMA President Julia Graham, ahead of the FERMA Seminar on 20 and 21 October when the results will be released.


Julia explains, "FERMA has said that risk managers are becoming risk leaders - the survey responses provide evidence to support that view. This seventh edition of the Benchmarking Survey, therefore, also endorses our objective to shape and support risk management as a profession."  



Seminar master class: radical reforms in the London market


John Hurrell

Major changes to London market practice are imminent, with the most radical reforms to English insurance law for over 100 years now under way. It is vital that all European risk managers who insure risks in the London market, or who insure internationally with UK law policies, understand these changes.

A masterclass chaired by Airmic Chief Executive, John Hurrell, will explain the new legal landscape and how the changes will affect buyers' interactions with the London market and their brokers.



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FERMA is Forty!




On October 20 in Brussels, FERMA will celebrate its 40th anniversary. In 1974, six European risk management associations came together to give the commercial insurance buyer a voice. They created the Association of European Industrial Insureds (AEAI), which in time transformed itself into the Federation of European Risk Management Associations. Today FERMA represents 22 national associations in 20 countries and more than 4300 individual risk managers.





Read more in the Newsletter

More demanding environmental requirements ahead? Seminar roundtable to discuss

The comprehensive review of the Environmental Liability Directive (ELD) that is now underway could lead to a revision of this important legislation early next year with new requirements for companies, possibly including mandatory financial security. This will be the subject of a roundtable discussion at the FERMA Seminar, so that FERMA can fine tune its comments to the Commission on behalf of members.



Letter from Brussels



Florence Bindelle

September is a busy time for FERMA with the publication of our first European Risk and Insurance Report and the Seminar approaching closer. We're also working on the plans for our gala dinner to celebrate our 40th anniversary, which will take place on 20 October at the Seminar, and not forgetting forward planning for the 2015 Risk Management Forum in Venice. It's a very full calendar. 


In early September, we met with the five sponsors of our Risk Management Benchmarking Survey to analyse the results of the 850 responses and prepare the European Risk and Insurance Report. The report will be a visually attractive and catchy document that highlights the major findings of the survey to serve as the basis for discussion at the Seminar, communication with senior management and discussion among the national association members.


Read more in the Newsletter


Launch of New Guidance on 8th Company Law

FERMA and the European Confederation of Institutes of Internal Auditing (ECIIA) will launch a new joint guidance document on the risk management provisions of the EU 8th Company Law Directive at the FERMA Seminar on 20 and 21 October.


There will be a dedicated portion of the Seminar press conference on Monday 20 October where senior representatives of FERMA and ECIIA will present the new guidance, and copies will be distributed to Seminar delegates. There will also be an online version available for download from the FERMA and ECIIA websites.



Expert views :  Ebola has broader risk implications


Franck Baron

The spread of Ebola fever in West Africa has widespread implications for international business, affecting a wider range of people and activities than the numbers who are directly exposed to the disease. The risks include severe problems getting treatment for other heath needs, possible flight bans and border closures, and travel delays. The World Health Organization has warned of potential for civil unrest.

The current outbreak of Ebola is the largest ever, both geographically and case numbers, which are much higher than the reported figures. The worst affected countries are currently Guinea, Liberia and Sierra Leone, although there have been isolated cases in Nigeria and Senegal. A second outbreak in the Democratic Republic of Congo involves a different strain of the virus in a remote area. In the main countries, the epidemic will almost certainly continue for some months. Dedicated facilities are overwhelmed, and there are equipment and staff shortages. Surveillance and suspicion are high.


Read the full article in the Newsletter


European Affairs :  Coinsurance: new review of Insurance Block Exemption


The European Commission has taken the first step towards the review of the Insurance Block Exemption Regulation (IBER), which will expire in 2017. A consultation was launched on 5 August and will last until 4 November. This must be seen as a first round to collect the views of all stakeholders dealing in some way or another with the insurance practices covered by the IBER.

The IBER is a sector-specific legal instrument that grants an exemption from EU antitrust rules for insurance practices like co(re)insurance pools, compilations and tables. The first IBER dates back to 1991 and was renewed in 2003 and 2010.



Knowledge Corner


Here is FERMA's selection of recently published useful reports for risk managers. 


Major causes of business claims: review 2014 (English)
 Allianz Global Corporate & Specialty (AGCS)

Ebola outbreak update (English)
 Europ Assistance

The Future of Trade Credit and Surety Insurance (English)
 Russell Group

Read more in the Newsletter





© Copyright 2014 FERMA. All Rights Reserved. No distribution or reproduction of this issue or any portion thereof is allowed without our written permission except by the recipient for internal use only within the recipient's own organisation.


This Newsletter is produced by FERMA. If you have any questions concerning this Newsletter, please contact Florence Bindelle at FERMA on +32 2 761 94 32 - email: florence.bindelle@ferma.eu  


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