FERMA Newsletter N°62



Federation of European Risk Management Associations (FERMA)

Newsletter N°62

 December 2014


Record numbers attend Seminar and celebrations


Plenary Session at Square - Seminar 2014

A record number of 384 risk managers and other risk professionals came to Brussels on 20 and 21 October for the combined FERMA Seminar and 40th anniversary celebrations. It was the occasion of the publication of FERMA's first European Risk and Insurance Report based on the results of the 7th edition of the FERMA's Risk Management Benchmarking Survey.

The post-event feedback from delegates was enthusiastic, especially for the European Risk and Insurance Report and the risk manager only roundtables, which were an innovation this year. More than 80% who provided feedback judged the report as excellent or good. All the plenary sessions had positive approval ratings with the top ranking going to the risk manager's profile session, and the risk manager only roundtables were very well received. Despite some reservations about aspects of the venue, the majority of ratings were positive and there was wide approval for the location.


Read more about the Seminar in the Newsletter


From your President


Julia Graham

As I draft this message, I am taking the time to reflect on a wonderful FERMA Seminar in Brussels and the memory of our special 40th birthday party. We have received very positive feedback and many requests to view and download the first FERMA European Risk and Insurance Report with the results of the 2014 FERMA Benchmarking Survey. There is also great interest in the joint ECIIA/FERMA Guidance on updates to European legislation and best practices, also released at the Seminar. We were delighted to welcome colleagues from ECIIA and other associations including FUEDI, IRMSA and the BCI to the Seminar.

I would like to extend a very warm thank you to the teams - FERMA staff, our consultants and advisors, the FERMA board, and our partners and sponsors - who made this all possible. Long hours and dedication are needed to deliver so professionally. I would also like to thank you, our member associations and their members, because we also achieve this with and for you.


Read the full article in the Newsletter


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A Merry Christmas and Happy New Year 




FERMA President, Julia Graham, the Board of Directors, the Executive Director, Florence Bindelle and the whole FERMA team wish you a wonderful holiday season and a happy new year 2015. 




Risk management today - a tour of Europe




Presidents of FERMA's national associations talk about their goals, challenges and favourite


Read more in the Newsletter

Let the Forum add power to FERMA's voice


Edwin V. Meyer

The FERMA Risk Management Forum in 2015 should put its weight behind FERMA's core activities, representing the views of its members with European institutions and acting as the voice of risk managers at European level. This view comes from the chairman of the programme committee for the event, FERMA board member Edwin V. Meyer.

"At the Forum, I would like to see attention to European issues, such as cyber risks and insurance law, which FERMA on behalf of its member associations is working on. The result should lead to the creation of a FERMA manifesto," says Edwin. His aim is to have discussions and workshops during the event focus on selected European topics with a vote on the final day to establish agreed positions.



Keynote speaker: Do not treat climate change as "Doomsday" 


Jesper Theilgaard

Seminar keynote speaker Danish climate scientist and TV weatherman Jesper Theilgaard told risk managers that they should not regard climate change as a disaster so terrible that nothing could be done to reduce or mitigate its impacts. "The biggest risk in dealing with climate change is to treat it as Doomsday and think there is nothing we can do about it. It is very important when we talk about climate change that it is not as a Doomsday scenario but as risks and opportunities," he said.


Read the full article in the Newsletter


Great support for European Risk and Insurance Report


European Risk and Insurance Report

FERMA's first European Risk and Insurance Report, containing the results and analysis of the 7th edition of FERMA's Risk Management Benchmarking Survey, has received a strongly positive reception from risk managers and partners alike. More than 80% of the feedback from the Seminar, where it was launched, rated it excellent or good, and the online reports have already been accessed or downloaded. Some partners have already indicated they want to support the next edition of the report and survey.

With the launch of the report, FERMA changed the presentation of the results of the survey at the Seminar so that there was more time for discussion among the delegates, and this also provided popular.



Letter from Brussels



Florence Bindelle

With a successful Seminar and our 40th anniversary celebrations behind us, FERMA has turned its attention to the projects which our European Risk and Insurance Report and Risk Management Benchmarking Survey show us are the priorities for our members.

At the top of our agenda is Certification. The report demonstrates that there is a great need for this qualification, and we are now finalizing the implementation timeline.


This is the first time that we have published the European Risk and Insurance Report, and the format and outreach are excellent. The survey identified key EU matters for our members, and those findings will be a source of guidance for our actions in the regulatory field.


Read more in the Newsletter


A gala celebration for 40 years

To mark its 40 years, FERMA published a special brochure celebrating its history and held a Champagne reception and gala dinner at the Palais des Beaux Arts, an art deco masterpiece by Victor Horta (1861-1947), which is now a prestigious Brussels venue for the arts.

The 40th anniversary brochure tells the story of FERMA since its beginning in 1974 to the present day through the story of its presidents, and at the dinner, the current President of FERMA Julia Graham welcomed many of her predecessors, including Life President François Settembrino, and other guests. "It is," said Julia, "a history created by people who share a passion for our profession."



FERMA and ECIIA respond to new corporate transparency requirements


FERMA and the European Confederation of Institutes of Internal Auditing (ECIIA) have responded to increased EU requirements for more corporate transparency with a new joint guidance document on the 8th Company Law Directive which was launched at the Seminar.

The new document "Audit and Risk Committees: News from EU Legislation and Best Practices" examines specifically how these committees should support their board and be supported by the two professions: risk managers and internal auditors..



Expert views : What association does FERMA belong to?


Danièle Vranken

FERMA is part of an important and growing business sector in Belgium - that of international associations based in the country, most commonly in Brussels. This group of organisations has its own body which provides a platform for members to share concerns and experiences with their peers: the Federation of European and International Associations (FAIB).

FAIB represents 280 of more than 2250 extremely varied European and international organisations that are established in Belgium today. FERMA is one of them, and FERMA's Executive Director, Florence Bindelle is a member of the FAIB board. 


Read the full article in the Newsletter


European Affairs :  EU antitrust rules : a right to a compensation for citizens


Until now and for a majority of EU countries, cartel issues have been dealt with only through a public enforcement of European antitrust law by national competition authorities.

The new Directive on antitrust damages actions, which will be signed by the end of November 2014, acknowledges a right to compensation for anyone who has suffered harm caused by a cartel..



European Affairs :  IMD2 / IDD2 - the return of the professional customer in 2015 ?


The recast of the Insurance Mediation Directive (IMD 2) is coming to a conclusion with the adoption by the Council of the European Union of a new compromise on 28 October (the sixth since May 2014).

The Council has re-qualified the original proposal as the IDD 2, standing for Insurance Distribution Directive 2; one possible explanation for this wording change is to have a broader scope and to cover all channels of insurance distribution and not just intermediaries.



European Affairs :  (Re) Insurance pools to remain outside the scope of EU competition rules


FERMA has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools in its response to the European Commission consultation exercise

The Commission launched the consultation in August (see here) to begin its assessment whether the claimed benefits for the insurance market and customers of insurance pooling still justify the special treatment they receive from EU competition authorities. Thirty-six organisations have provided their responses (consultable here) and the Commission must provide a report to member states before 31 March 2016 with the objective of deciding on its renewal in 2017.



Healthy workplaces manage stress - a FERMA partnership


FERMA believes that stress in the workplace is an enterprise risk management issue to be shared with HR and other departments because of its enormous potential consequences for employers, including: 

  • Reduced overall business performance;
  • Higher workforce turnover;
  • Increased absenteeism and presenteeism (at work but not working to capacity);
  • Increased accident and injury rates;
  • Liability claims, depending on the jurisdiction.



Knowledge Corner


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


Conference reports 

  • AGERS conference report (English)

A short summary of the annual conference is available at http://bit.ly/1FPsBu1

  • ANRA annual conference report 2014 (English)

This report includes the results of ANRA's Observatory on Corporate Risk Managers in Italy and risk governance survey.:


General assembly: report of the chairman (English) :

  • SIRM

A short summary of the annual conference (English) is available at  http://bit.ly/1FRYUdI

Human resources 


Mastering the risks of human resources: the engine of development for enterprises: conference reports (French)

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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