Monthly Archives: November 2012

Controversy over the creation of a pollution fund

The Federation of European Risk Management Associations, which represents risk managers in 20 European countries, has told the European Commission that it is opposed to the creation of a fund to cover environmental liability and losses resulting from industrial accidents.

FERMA was responding to a consultation exercise by the Commission following a proposal from the government of Hungary for the establishment of a compensation fund, partly in response to a major industrial accident in October 2010 that involved a spill of around 1m cubic metres of red sludge and alkaline water. Continue reading

FERMA Newsletter 50 (Table of Contents)

FERMA Newsletter 50 (November 2012)
Download Newsletter 50
November 2012

Table of Contents

FERMA Benchmarking Survey results in a nutshell

This is the sixth edition of the survey, which has taken place every other year since 2002.

A record number of 809 risk and insurance managers from 20 European countries responded. Continue reading

Save the date for your diary! AIDA – FERMA Seminar 3 June 2013

The insurance law association AIDA-Europe and FERMA will hold a joint conference on 3 June in Paris on commercial insurance law and regulation issues to be followed by a cocktail reception.
Continue reading

Meeting the cyber risk challenge

It’s not too late to listen to FERMA board member Julia Graham and other industry experts in the webinar on the cyber risk challenge jointly hosted by FERMA, Zurich Insurance and the Harvard Business Review and hear an exclusive presentation of the key findings from the pan-European security and privacy survey conducted by Zurich and Harvard Business Review with FERMA. Continue reading

FERMA Seminar: a quiet revolution in Versailles

The French city of Versailles, 20 km outside Paris, has two palaces: the vast Royal Palace with its famous 75m mirrored ballroom, and on its doorstep, the Palais des Congrès, a more recent and modest establishment. Continue reading

Thank you for a successful Seminar

The President of FERMA Jorge Luzzi thanks all those who made the 2012 FERMA Seminar a success:

AXA Corporate Solutions and Ernst & Young for their continuing support for our Risk Management Benchmarking Survey. Continue reading

Letter from Brussels

Florence Bindelle, Executive Manager

Florence Bindelle, Executive Manager

The way that EU regulations develop from proposals or green papers into directives some years later is far from transparent and can be very messy. Knowing how to represent the views of risk managers in the right place and at the right time is something that FERMA takes very seriously.

The measures put forward by the EU and its various institutions have an enormous and wide ranging impact on our working lives. Current projects FERMA is monitoring include natural catastrophes, environmental pollution, Solvency II and captives, broker remuneration and the Insurance Medication Directive II, co-insurance and data protection. We are also an official sponsor of the healthy workplaces campaign Working together for risk prevention coordinated by the European Agency for Health and Safety at Work (EU-OHSA).

These are projects which continue to develop, but have been underway for some time. Our aim now is to help our members understand better how EU institutions work. Next year, we’ll be announcing some new ideas, possibly in connection with the general assembly in June.

We ask for our members’ concerns about European matters, primarily through the monthly presidents’ call between FERMA President Jorge Luzzi, and the heads of the national associations. We are also steadily increasing our contacts with EU institutions to raise awareness of FERMA positions, and we join forces with other European associations with similar interests to increase the weight of our views.

We may not make the process of EU law making any tidier but it should be clearer, so the members will be empowered to get their views known where they count.

Certification moves step nearer

Possible European certification of risk managers has moved a step closer with the decision of the FERMA working party that it will present a definite plan for the project at the next FERMA Forum starting on 29 September 2013.

Between now and then, the working party will discuss the scheme with FERMA’s 22 member associations and possible service providers to discover what education programmes are currently available and what they believe should be included in a certification syllabus. FERMA does not intend to be an education provider itself but would develop a programme of courses from other sources. Its role will be to confirm that the risk manager has achieved a high level of professional competence and skill.

Taking the professional recognition of risk managers to another level by developing certification is clearly an ambitious project and FERMA is also talking with potential partners with appropriate management skills.

Additional support will come from the appointment to the working group of FERMA’s newest board member, Isabel Martinez. Isabel has extensive experience of higher education. She is a senior lecturer in corporate finance at the Autónoma University of Madrid school of business and economics, in addition to her role as head of the university’s finance and marketing department.

The presentation at The FERMA Forum is most likely to propose European certification at two levels: confirmation of competence in risk management for newer entrants into the profession and a full recognition of competence and experience for more senior risk managers.

FERMA Vice President and working party member Michel Dennery says, “For European companies, it is important that their risk manager has European recognition. Certification can provide an indication to a company that its risk managers are competent to a recognised level which is in turn compliant with best practice of different risk management disciplines across Europe.”

Working party and FERMA board member Julia Graham comments, “There are already many courses and qualifications in risk management, but they are at different levels and cover different countries and different aspects. Nothing currently exists that provides a consistent benchmark of competence for risk managers across Europe.”

Both Michel and Julia stress the importance of the views of FERMA’s 22 member associations in developing this ambitious project. “One of our first steps is to understand what education programmes they currently provide, and what kind of competence and experience they want to see included in certification,” said Graham.

Join the discussion on the Certification

New project manager for FERMA

Véronique De Hertogh has joined FERMA as project manager. She will take an active role in preparation for the 2013 FERMA Forum and other events, so many FERMA members will get to know her over the next few months. Continue reading