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FERMA Newsletter 62 (Table of content)

FERMA Newsletter 62 (December 2014)
Download Newsletter 62
December 2014

Table of Contents

Record numbers attend Seminar and celebrations

A record number of 384 risk managers and other risk professionals came to Brussels on 20 and 21 October for the combined FERMA Seminar and 40th anniversary celebrations. It was the occasion of the publication of FERMA’s first European Risk and Insurance Report based on the results of the 7th edition of the FERMA’s Risk Management Benchmarking Survey.

The post-event feedback from delegates was enthusiastic, especially for the European Risk and Insurance Report and the risk manager only roundtables, which were an innovation this year. More than 80% who provided feedback judged the report as excellent or good. All the plenary sessions had positive approval ratings with the top ranking going to the risk manager’s profile session, and the risk manager only roundtables were very well received. Despite some reservations about aspects of the venue, the majority of ratings were positive and there was wide approval for the location. Continue reading


For the first time, FERMA organised closed sessions for risk managers at the Seminar to discuss specific issues in small groups. This innovation was very well received. In feedback, almost everyone gave an excellent or good rating to the topics chosen, and the discussions and reporting also received positive assessments. Continue reading

Fast facts

Total attendance: 384

Top attenders

Risk managers from member associations: 157
Risk managers non-members: 13
Insurers: 91
Brokers: 32 Continue reading

Keynote speaker: Do not treat climate change as “Doomsday”

Seminar keynote speaker Danish climate scientist and TV weatherman Jesper Theilgaard told risk managers that they should not regard climate change as a disaster so terrible that nothing could be done to reduce or mitigate its impacts. “The biggest risk in dealing with climate change is to treat it as Doomsday and think there is nothing we can do about it. It is very important when we talk about climate change that it is not as a Doomsday scenario but as risks and opportunities,” he said.

Theilgaard gave the Seminar an overview of many inter-related ways that the emission of greenhouse gases is continuing to change the environment from more extremes of weather, higher sea levels, toxic air pollution and the migration of disease agents and crop pests. There are, he advised, certainly enormous risks but also great opportunities in developing long-term mitigation and local adaptations to these changes. Continue reading

From your President

As I draft this message, I am taking the time to reflect on a wonderful FERMA Seminar in Brussels and the memory of our special 40th birthday party. We have received very positive feedback and many requests to view and download the first FERMA European Risk and Insurance Report with the results of the 2014 FERMA Benchmarking Survey. There is also great interest in the joint ECIIA/FERMA Guidance on updates to European legislation and best practices, also released at the Seminar. We were delighted to welcome colleagues from ECIIA and other associations including FUEDI, IRMSA and the BCI to the Seminar. Continue reading

Letter from Brussels

With a successful Seminar and our 40th anniversary celebrations behind us, FERMA has turned its attention to the projects which our European Risk and Insurance Report and Risk Management Benchmarking Survey show us are the priorities for our members.

At the top of our agenda is Certification. The report demonstrates that there is a great need for this qualification, and we are now finalizing the implementation timeline. Continue reading

Great support for European Risk and Insurance Report

FERMA’s first European Risk and Insurance Report, containing the results and analysis of the 7th edition of FERMA’s Risk Management Benchmarking Survey, has received a strongly positive reception from risk managers and partners alike. More than 80% of the feedback from the Seminar, where it was launched, rated it excellent or good, and the online reports have already been accessed or downloaded. Some partners have already indicated they want to support the next edition of the report and survey. Continue reading

A gala celebration for 40 years

To mark its 40 years, FERMA published a special brochure celebrating its history and held a Champagne reception and gala dinner at the Palais des Beaux Arts, an art deco masterpiece by Victor Horta (1861-1947), which is now a prestigious Brussels venue for the arts.

The 40th anniversary brochure tells the story of FERMA since its beginning in 1974 to the present day through the story of its presidents, and at the dinner, the current President of FERMA Julia Graham welcomed many of her predecessors, including Life President François Settembrino, and other guests. “It is,” said Julia, “a history created by people who share a passion for our profession.” Continue reading

FERMA and ECIIA respond to new corporate transparency requirements

FERMA and the European Confederation of Institutes of Internal Auditing (ECIIA) have responded to increased EU requirements for more corporate transparency with a new joint guidance document on the 8th Company Law Directive which was launched at the Seminar.

The new document “Audit and Risk Committees: News from EU Legislation and Best Practices” examines specifically how these committees should support their board and be supported by the two professions: risk managers and internal auditors. Continue reading