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FERMA Newsletter 44 (Table of Contents)

FERMA Newsletter 44 (November 2011)
Download Newsletter 44
November 2011
(PDF, 1.3 MB)

Table of Contents

A man of many countries and enthusiasms – A profile of Jorge Luzzi, FERMA’s new President

A man of many countries and enthusiasms – A profile of Jorge Luzzi, FERMA’s new President. Continue reading

Letter from Brussels

Latest news from FERMA. October was an exceptionally busy month for FERMA with the successful conference in Stockholm, the launch of the new logo and the new website. Now back in the office, we are working on the next stage of the guidance on the 8th Company Law Directive. We are planning our 2012 projects, among them the seminar and the benchmarking survey.
Continue reading

EC considers regulation of loss adjusters

How do FERMA members feel about loss adjusters? Would they like to see some form of registration or regulation? This issue, which has been discussed in FERMA a number of times in the past, has again become topical as part of European Commission discussions on the prevention and insurance of natural catastrophes. FERMA plans to circulate association presidents to ask their views, ahead of a possible meeting with the European Federation of Loss Adjusting Experts (FUEDI). Executive Manager Florence Bindelle, who attended a Commission seminar on natural catastrophes on 18 October, reported that the Commission is to carry out an in-depth examination of insurance schemes within the EU for natural catastrophes. Continue reading

Launch of further guidance on 8th Directive

On 14 December, FERMA will formally launch its joint publication with the European Confederation of Institutes of Internal Auditing (ECIIA) of guidance for senior executives on the risk management provisions of the EU 8th Company Law Directive.

This important work follows the FERMA-ECIIA guidance on the 8th Directive for boards and audit committees published in September 2010. Former FERMA President Marie-Gemma Dequae and current Vice President Michel Dennery are leading the continuing work for FERMA.

Commented Michel, “This work will be valuable not just for senior executives in large companies, but also for directors and audit committees of smaller companies, as we are including practical advice on application of the rules.”

A press conference and presentation of the new guidance will take place in Brussels from 9.00 to 10.00 am with breakfast from 8.30. The venue will be confirmed closer to the time.

Read more about “ECIIA – FERMA guidance”

Towards global compliance

FERMA and member association Airmic with the London and International Insurance Brokers’ Association will in November approach interested parties in the insurance market with a request for proposals to set up a global insurance regulation and tax database. The issue of global compliance was one of the most debated topics at the FERMA Forum in Stockholm, both in a workshop devoted to the subject and in the questions to insurance industry leaders in the final panel. Immediate past President Peter den Dekker, who remains on the board of FERMA, and Vice President Julia Graham, who chaired the Forum workshop, are driving the contribution from FERMA. Continue reading

Cyber risk survey results

Social media are a great means of communicating and building communities. At the same time, their implications for company reputation are a real concern for risk managers. This is the finding of an online survey on cyber risks conducted by FERMA and the Institute of Risk Management (IRM). The survey, which took place just ahead of the Forum, received a total of 186 replies from members of the two organisations. They were asked which three cyber risks they regarded as the greatest threats to business in general and to their own organisation and then how these risks were managed. Continue reading

Young Risk Professionals

The young risk managers’ network is now looking to build a continuing virtual meeting place, following its successful launch at the Forum in Stockholm. The next planning meeting is expected to take place in Brussels in December. The network is a joint programme between FERMA and Lloyd’s Register Quality Assurance (LRQA). Continue reading

Education Initiatives

Twenty candidates from 12 countries have been selected for the first FERMA-Lloyd’s professional development initiative for risk managers, which will begin in 2012. Continue reading

Tweet for FERMA: #fermarisk

Social media allow risk professionals from across FERMA’s now widely spread membership to build a lively community. FERMA can communicate quickly with its members and the members can communicate among themselves. Please join us if you haven’t already done so. Continue reading