FERMA Newsletter N°65



Federation of European Risk Management Associations (FERMA)

Newsletter N°65

 June 2015


FERMA projects raise the profile of risk management across Europe


In addition to professional Certification for risk managers, FERMA is currently engaged in a number of projects that are raising the profile of risk management in different sectors and strengthening the European voice of risk managers. These fulfil the strategic actions agreed by the board in December 2014.


Florence Bindelle

FERMA Executive Director Florence Bindelle explains, "We have established strong policy committees composed of expert members from across Europe. The interaction with other EU stakeholders and our committees reinforces FERMA's position as a key stakeholder in Brussels."


This work includes training for risk managers on the European Liability Directive (ELD) in June; a conference in July on risk committees; research on international travel risks to be published at the Forum, and longer term objectives including reform of international insurance programmes.


One of our first events is a joint conference with ecoDA, the directors' organisation, and AIG on improving the quality of the conversation about risk at board level. This will take place in Brussels on 10 July. For our part, we are preparing a presentation for the event on the role of risk committees, which are still unusual outside financial services. We have issued a call for member's views and experiences, and have a broad range of sectorial and geographical experts who are assisting.



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Travel Risk Management




FERMA and International SOS would like to find out what your involvement in Travel Risk Management is by completing the 1-minute survey




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Hear insurance industry trends - from the top


One of the unique aspects of the FERMA Forum is the opportunity for risk managers to learn about current trends in the insurance market direct from senior leaders of the most important commercial insurance businesses in the world.

The timing of the Forum is particularly useful for understanding how the market is evolving because it comes just a month after the Rendez-vous de Septembre in Monte Carlo in which the insurers and reinsurers start setting the scene for treaty renewals for the following year.


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Welcome Reception - a special Venetian location


Cini Foundation

Beautiful surroundings and seriousness of purpose: these are the qualities of the venue where FERMA will welcome participants to the FERMA Forum 2015 on Sunday evening 4 October. From the Lido, we will go by boat to the Giorgio Cini Foundation set in a former Renaissance monastery on the Island of San Giorgio for our opening reception.

The foundation looks directly across the water toward St Mark's - but this magnificent building is not a Venetian tourist attraction. Instead, it is a non-profit cultural institution which for more than 50 years has hosted important international events including G7 summits, UNESCO conferences, major scholarly gatherings and smaller specialist meetings.



The new face of risk management - why I love my job


Four promising risk managers tell FERMA what they enjoy most about their work.

Cristina Gutiérrez

Cristina Gutierrez

Risk Manager, Grupoimar

I love this profession. It is a very intense function. You have to manage and know the very heart of the company with a deep understanding of its processes. I really love being a risk manager because you can always help to improve something, and you can always learn something new, continuously changing.

You really notice that your work helps the company and those who work in it, and this feeling enriches you personally every single day.



Persuade your boss that the FERMA Forum 2015 is a must 

  •  It's a professional event. Our host is ANRA, the Italian risk management association.
  • The programme is created by risk managers for risk managers.
  • The sessions are designed for practical application to add value to performance.
  • It's a way to learn new examples of best practice from colleagues from across Europe.
  • It's an opportunity to meet many insurers and other service providers in one place, so saving travel time and money..


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Letter from Brussels



Florence Bindelle

I invite our members and colleagues to have a look at the FERMA Annual Report 2014. Available on the FERMA website, it is the first that we have published. The report presents our achievements during 2014 and our plans for 2015. As you will see, in 2015 we are focusing our efforts on technical, event and education developments.

Certification and our Risk Management Forum on 4-7 October are our two biggest projects, but far from the only ones. An example is the organisation of training for our members on the Environmental Liability Directive (ELD) which will take place in June. We also held an ELD meeting with other European stakeholders in Brussels in May.


Read the letter from Brussels in the Newsletter


Success crowns FERMA-Lloyd's professional development programme


The second FERMA-Lloyd's professional development programme has concluded with the third of its three sessions and an award of certificates to the participants: promising risk managers from FERMA member associations. Initiated by Benno Reischel, Lloyd's Head of Europe, and FERMA's Head of Education Edouard Thys, the programme has been an enormous success with its participants. 


FERMA-Lloyd's professional development programme class 2014 - 2015




From the President


Julia Graham

FERMA is now in the middle of one of the most exciting times - if not the most exciting time - in its history. Working together, the board and the secretariat team with support from member associations are moving FERMA to a new level in terms of its profile and influence in Europe.


Our Forum in Venice on 4-7 October will be our opportunity to showcase some of this work, especially Certification. Certification is moving steadily forward and we will launch it formally at the Forum, where we will present the first Certifications to our Founder Certified Risk Managers. The Certification Steering Committee led by FERMA Vice President Michel Dennery will present a progress report to the FERMA General Assembly on 25 June.

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Expert views : It's not just insurance


Duncan Zorn

Increasingly organisations outside of financial services are looking to model, quantify and manage risks ranging from their operational, political, environmental/weather and compliance exposures through to strategic risks.

The benefits of taking such a quantitative approach to managing these risks include: making objective cost-benefit evaluations of risk mitigation options, assessing the likelihood of achieving budgets or plans, and improving "risk-adjusted" views of return on investment (ROI). 

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Expert views: How much safety is safe enough: risk acceptance criteria


Konstantinos Mitropetros

The European Process Safety Centre (EPSC) is an international, not for profit network of major hazard operators, research institutions and related organisations who share a common goal of eliminating process safety incidents.

EPSC has recently produced a report on Risk Acceptance Criteria which explores the requirements for tolerating risk shared by various parties: just how much safety is safe enough?
Reflecting the work of the Risk Acceptance Criteria Working Group, the report is based on the experience of companies who have faced complex situations involving multiple entities sharing risks and risk management.


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Knowledge Corner


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


Corporate Governance

Exploring the risk committee advantage - RIMS (English) 

Tomorrow's Risk Leadership - Airmic (English)


Emerging risks
Sonar: New emerging risk insights - Swiss Re (English) 

Discover more reports in the Newsletter





© Copyright 2015 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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