FERMA Newsletter N°66



Federation of European Risk Management Associations (FERMA)

Newsletter N°66

 July 2015


International Rugby Legend is a Forum Keynote Speaker


Sean Fitzpatrick

The programme for the FERMA Forum is nearing completion with the announcement of the second keynote speaker, the panel discussions and risk manager-only roundtables. It is an exciting mix of education, information and inspiration.

The Forum's second keynote speaker is former New Zealand All Blacks Rugby captain Sean Fitzpatrick. He will speak on the link between Certification, excellence and motivation. Sean is recognised as one of the greatest international rugby players of all time. His international career began with his debut for the All Blacks in 1986 against France.


Read the full article in the Newsletter


Roundtables for risk managers only


One of the most popular innovations of recent FERMA events has been risk managers only roundtables. For the Forum in Venice, we offer the following six each led by a FERMA member.

  • Business continuity - Gaetan Lefèvre (BELRIM)· 
  • ERM culture and Impact - Ralph Mulder (NARIM)
  • Compliance - Jenny Schmigale (DARIM)
  • Evolution of risk and audit - Steve Fowler (Airmic)
  • Risk tolerance and appetite - Alexander Mahnke (DVS)
  • Insurance and sustainability - Richard Andrew Bradely (SIRM)

Register in good time to get your first choice.


Read more in the Newsletter


Introducing FERMA's new board members


FERMA has two new board members. They are Gilbert Canameras, immediate past president of the French risk management association AMRAE, and Dirk Wegener, Global Head Corporate Insurance for Deutsche Bank and a member of the German associations BfV and DVS. They were elected at the general assembly in June and took office immediately.




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Forum Panels - exploring the key themes




Most participants have now been confirmed for all three panel discussions that will explore the three themes of the Forum: profession, diversity and innovation.


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Five more reasons to come to the Forum




1. Do you need to know about current directions in the insurance market? You'll hear them from the top.

2. Former New Zealand All Blacks rugby captain, Sean Fitzpatrick, will provide inspiration and encouragement for your own line outs..


Read the 3 other reasons in the Newsletter

The risk conversation and business success



A good risk conversation is more essential than ever to the success of business. Faced with disruptive new business models, companies must take risks to succeed. They must also manage risk and comply with regulation and demands for disclosure. There must be clear communication about risk at board and board committee level, and with internal risk functions for the board to fulfil its duties.

This conclusion emerged clearly from the seminar on risk governance and emerging risks in the 21st century organised by FERMA, AIG and the European Confederation of Directors' Associations (ecoDa). More than 60 risk managers, directors, internal and external auditors, consultants and other risk professionals met at the prestigious venue of the Cercle de Lorraine in Brussels on 10 July 2015 for the event.


An extract of the report by FERMA President Julia Graham to the FERMA General Assembly


Julia Graham

Company boards find themselves under the risk spotlight and are being challenged to provide assurance of their competence to deliver their responsibilities for managing risk and, increasingly, evidence of whether their competence is up to the standard required. Although the tone for risk, risk culture appetite and risk appetite is set from the top of an organisation, the risk management professional can step up as a risk leader to help the board deliver their risk responsibilities.

The risk management profession is also under the spotlight and we are in an exciting period of new professional opportunities - opportunities that FERMA recognises and is responding to. FERMA continues to impress the risk management and insurance community with its profile, influence and actions.



On Becoming the Next President of FERMA 


Jo Willaert

Having been elected deputy president of FERMA earlier this year, Jo Willaert is taking time to reflect on his goals for his term before he takes over as president from Julia Graham at the close of the 2015 FERMA Forum on 7 October.

Jo, Corporate Risk Manager for Agfa-Gevaert based in Antwerp, has his sights firmly set on achievement of FERMA's professional Certification project, increased European influence for risk management and further development of FERMA's biannual benchmarking survey as goals for his two year term.


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Expert views : Managing reputation risk in the social media age


John Ludlow

Trust is the currency of the experience economy and social media is its courtroom.

Today businesses are increasingly competing for our emotions, with an emphasis on the customer experience, typically delivered through an increasingly fragmented ecosystem of specialist businesses working together (or not) behind brands that depend on the support of a multitude of stakeholders.

Risk managers, particularly of branded businesses, must address the experience economy and the emotional perspective of risk. How will the public and the other economic stakeholders in your business respond to an unfortunate event? Accelerated by social media, emotions about a brand or a business are vulnerable to swift changes.


Read the full article in the Newsletter


European Affairs : Corporate tax transparency - more pressure towards country by country reporting


FERMA is preparing a response to the public consultation launched on 17 June 2015 by the European Commission on corporate tax transparency as part of a larger Action Plan on Corporate Taxation. The consultation contains specific questions about country by country reporting on pages 11 and 18 (read the document at http://bit.ly/1h7xgCm).

Pressure for country by country reporting is mounting, not just from the Commission but also the European Parliament and Council and the OECD. This is a concern for the risk management community. During the last FERMA European Risk and Insurance Survey 2014, just under half those responding indicated that it would pose a confidentiality issue regarding strategy, and 23 per cent said it would impact the business model and cross-border synergies of their organisations.


Read the full article in the Newsletter


European Affairs : FERMA holds ELD training for risk managers


Thanks to the support of the European Commission, FERMA organised a two-day training session about the Environmental Liability Directive (ELD) for risk managers in Brussels, on 18 and 19 June.

Provided by professional consultants (EFTEC and Stratus Consultants), the training brought together risk managers from Belgium, Italy, Portugal, the United Kingdom from various sectors such as energy, chemicals, mining and food.


Read the full article in the Newsletter


Knowledge Corner


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


Cyber risks 

  • Business Blackout - implications of a cyber attack on critical infrastructure
    Lloyd's/Cambridge Centre for Risk Studies (English)
  • AMRAE Cyber risks : A guide to risk assessment and insurance solutions (English) http://bit.ly/1MzzQxU

Encuentro IGREA, MARSH y CUATRECASAS (Spanish)


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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