FERMA Newsletter N°59



Federation of European Risk Management Associations (FERMA)

Newsletter N°59

       May 2014


Prizes await Benchmarking Survey respondents and associations


The 2014 FERMA Benchmarking Survey got off to a great start immediately after the Easter holiday with a launch in all 20 FERMA member countries. Within a week there were nearly 400 responses, and this year FERMA is offering some special incentives to encourage participation:

Survey respondents have the opportunity to win one of six wonderful prizes:

  • One free registration at the FERMA Forum 2015 in Venice (1 prize)
  • One night free accommodation at the FERMA Seminar 2014 in Brussels (3 prizes)
  • Three free nights' accommodation at the FERMA Forum 2015 in Venice (2 prizes)


Read more about the survey in the Newsletter


Attend the Seminar... be an influencer


Registration is now open for the 2014 FERMA Seminar. The event, taking place in Brussels on 20 and 21 October, is the highlight of FERMA's calendar for 2014 especially because it will also celebrate FERMA's 40th anniversary with a gala dinner. Both the Seminar and the dinner are free for members of FERMA associations.


At the heart of the programme will be the presentation and discussion of the results of the 2014 FERMA Benchmarking Survey, now underway across 20 European countries. The keynote talk by Danish meteorologist Jesper Theilgaard will be on climate change and its implications for European business.


Read more in the Newsletter


Letter from Brussels



Florence Bindelle

It has been an eventful two months for FERMA! A FERMA team attended RIMS conference in Denver in April. It was a great occasion for both President Julia Graham and me to meet our counterparts at RIMS and at global level. You will find my report also in this newsletter.


In addition at RIMS, I attended a public affairs presentation and met with Nathan Bacchus RIMS Head of Government Affairs. As businesses are global and operate in a competitive environment, we might see issues on which we could capitalise and benefit by sharing actions led by our organisations that further support the profession.


Read more in the Newsletter


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Climate change: the risks of 

doing too much or not enough




No risk manager can be unaware of the issues of climate change, and this year the keynote speaker for the Seminar will be presenting them along with their consequences for Europe and particularly European business. He is Danish meteorologist, TV weatherman and climate expert, Jesper Theilgaard.



Jesper Theilgaard


Read more about Jesper Theilgaard in the Newsletter


Professional development diary - the FERMA-Lloyd's course 


Per Kühn

Per Kühn is risk and compliance manager for the Danish company B&K Vibro, which produces safety and condition monitoring systems for rotating machinery, and a member of DARIM. Here is his diary for the first session of the 2014-2015 FERMALloyd's professional development programme which took place on 24 and 25 April at Lloyd's.


Day One

The main purpose of the first day of the FERMA/Lloyd's professional development programme was to provide an overview of the Lloyd Insurance market. For me the subject seemed fairly complex, most likely because I had only a little experience with the insurance market. I was relieved when I found the presentations of the insurance market well-structured and well presented and they turned out to bring me a valuable understanding that allowed me to benefit from the second day of the programme.


Roads to revision - ISO 31000


An ISO working group, hosted at the offices of law firm DLA Piper in London, has put forward proposals for limited revision of the enterprise risk management standard ISO 31000 and an update to the language guide which accompanies it, Guide 73. Their recommendations will go forward to the next meeting of the ISO 31000 technical committee and the working group, which will take place in Istanbul in September. The aim is to have the new documents available before the end of 2016.



FERMA goes to RIMS


Florence Bindelle at RIMS 2014

A team from FERMA attended the Rims conference in Denver in April. The traditional gathering of representatives of the International Federation of Risk and Insurance Management Associations (IFRIMA) on Saturday evening was a good occasion for both President Julia Graham and Executive Director Florence Bindelle to meet their counterparts from RIMS and at global level. Sunday, FERMA joined the 2nd working group meeting to discuss the framework of risk management education




Expert views : A role for the risk manager in corporate transparency



Marie Gemma Dequae

The European Parliament in April passed the Non-Financial Reporting Directive that requires all large companies or groups to disclose information on their policies, risks and results in respect to environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and bribery issues, and diversity on boards of directors. 


This directive amends the Accounting Directive, and it will become law following the expected adoption by the European Council in the next few weeks. Most quoted companies already publish a corporate social responsibility (CSR) report that covers many of the topics to be disclosed, but this directive makes disclosure mandatory and it extends this requirement to all companies and groups with more than 500 employees, and insurance companies and banks. The EU estimates it will affect about 6000 enterprises in total.


Read the full article in the Newsletter


European Affairs : FERMA participation at the 3rd Network & Information Security Platform plenary


Launched in February 2013 by the Cybersecurity Strategy of the European Union, the public-private Platform on Network and Information Security (NIS) is looking to develop secure and effective risk management practices for information and communication technology. 


The result is a guidance document that was presented at the 3rd NIS Platform plenary meeting of 30 April 2014 in Brussels, and FERMA has been asked to give an "outsider's" view on the guidance and whether it could be of use when assessing the maturity of organisations for cybersecurity insurance coverage purposes.



European Affairs : Product safety law to become more consistent


Debates around the final implications of the EU package on product safety and market surveillance released by the European Commission last 13 February 2013 will soon come to an end. The proposed regulations were adopted by the European Parliament on 15 April 2014 before discussion with the Council of the EU; they will replace the current EU General Product Safety Directive adopted in 2001.



European Affairs : Delay of ELD report


The European Commission report on the application of the Environmental Liability Directive (ELD), which will cover also a review (evaluation) of the legislation, was postponed from the end of April and will now be completed later this year. There was some delay with the member state reports on the national application of the ELD and evaluation studies carried out for the Commission. Further, there is the matter of the European elections and appointment of new commissioners in the next few weeks and months. Adoption by the new Commission College is not envisaged before the beginning of 2015, according to a Commission official. 


IFRIMA elections


FERMA board member Carl Leeman was re-elected Chairman of the International Federation of Risk and Insurance Management Associations (IFRIMA) at the board meeting held during the RIMS conference in the United States. Mary Roth, executive director of RIMS, was elected President and FERMA board member Jorge Luzzi is Executive Vice President.




Knowledge Corner


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


Regulatory risk

Crisis Management within a Regulatory Framework

United National Economic Commission for Europe (UNECE) Working Party on Regulatory Cooperation and Standardization Policies. Download free at: http://bit.ly/1sVyuRL

Risk management and corporate governance

Risk management and Corporate Governance

OECD. Download free at: http://bit.ly/TlVfCi

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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