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
Tag Archives : Sessions and Workshops
FERMA Risk Management Forum 2011 – Stockholm, Waterfront Congress Center, 2-5 October 2011
General Information, Session and Workshops, Presentations, Videos, Interviews, Press Releases, Press Coverage.. and more! Continue reading
The workshop on captives and Solvency II started with the basics. In fact all attendees knew the definition of a captive insurance or reinsurance vehicle, but many may not have been quite aware of its function in a complex financial strategy. Aptly, the speakers cited parallels with the role of some specific cash vehicles for the treasurer to avoid seeking a loan when money is scarce and expensive. The role of a captive for the risk manager is to avoid buying a working layer when insurance cover is scarce and expensive. Continue reading
FERMA Forum 2011, Tuesday 4 October, Breakfast (08:00 – 09:00)
LRQA and FERMA get day two of the FERMA Forum off to a great start. The Young Risk Professionals networking session, which started at 8 am on day two of Europe”s premier risk management event, featured over 100 young risk professionals from across Europe Continue reading
Several of FERMA’s member associations have industry sector groups for their members. Now for the first time, FERMA has done the same thing on a pan-European basis with a meeting today (Tue). Among the industry sectors covered were banking and financial services, chemicals and pharmaceuticals, automotive and aviation and aerospace.
Allesandro de Felice, Group Risk Manager, Prysmian, who acted as the session moderator, said afterwards: “The questions and topics discussed were really interesting and it was nice to hear the current issues from other industry sectors, issues that you tend to miss out on as you are focused on your own sector. For that reason, the session provided a good learning opportunity for all the attendees.” Continue reading
Just as the title hints, this session was a very interactive one. Steven Thompson, a senior security advisor for red24, began by discussing recent developments on the travel insurance market and how the landscape has changed since 9/11. He emphasised the importance of securing the safety of employees as a result of the duty of care, and described the types of threats travellers face these days (not being short on real life examples) and the ways to counter them. Continue reading
This workshop aimed to give guidelines on how to manage the most important intangible asset but the one that is most elusive to define – reputation.
Mark Harman of Crawford attempted to give a definition of reputation providing two real life examples, opposite extremes of how reputation can be handled. He concluded that the key to managing reputation was prevention and understanding the complexities of such issues (especially taking into account the numerous stakeholders involved). Finally he advised that overreacting was good when dealing with reputational damage.
There is a “radical expansion” of European insurance regulation, but there may be shortcomings in its implementation and unforeseen impact on the insurance industry and its customers, Guy Soussan, European legal advisor to the Federation of European Risk Management Associations (FERMA) stated today (Wed) during a panel discussion on regulatory issues at the 2011 FERMA Risk Management Forum in Stockholm.
According to Soussan, a partner in the law firm Steptoe & Johnson, the insurance industry and its commercial customers still need to be convinced that however desirable the objectives of these new regulations that they will be successful in achieving them. Continue reading
The session will bring a holistic view of the ERM development around the world, particularly abroad Europe. The speakers will bring their expertise as representing international companies and international Risk Management associations. Several analysis will help to understand that after all we are in a small world, but there are some particularities like the USA and Canada way of doing ERM, how Latin American, African and Asiatic companies deal with ERM and also how governmental institutions manage their risks.
The session is important because the attendees could compare the development of the profession in countries and institutions that are not their daily operation and to see the way that these kind of institutions deal with their common problems. New ideas about the way to deal with the profession could come after to see the situation from another perspective.
People will learn to see other point of view from different organizations and different countries could provide a complete new vision and generate a new approach in the way that they are doing ERM locally; also to interact with professionals coming abroad Europe like the President of Rims and the Risk Manager of the International Monetary Found could provide a direct contact with other realities of our common profession.
Monday 3rd October, 3.45pm – 5pm
Session Leader :
Jorge LUZZI, Director Risk Management, Pirelli Group and Vice President of FERMA (Moderator)
Scott B. CLARK, President, Risk and Insurance Management Association
Pablo ZINI, Risk Manager, International Monetary Fund
Businesses in the same industry face many of the same risks, wherever they are. In Stockholm, their risk managers will have the opportunity to sit down together and discuss their common interests, including their insurance programmes, at roundtables on Tuesday 4 October from 9.00 to 10.15. The specific sectors will depend on the risk managers who enrol, but are most likely to include retail, construction, financial services, industry, energy and telecoms, according to session leader Alessandro De Felice, Group Risk Manager for Prysmian, a high-technology cables and systems group. Continue reading