Swiss Re Corporate Solutions received FERMA’s first ever product innovation award, launched at the 2011 Risk Management Forum, for its non-damage business interruption cover that allows the aviation industry to mitigate risks associated with unexpected natural events, such as volcanic ash cloud. Continue reading
Monthly Archives: October 2011
We interviewed Peter right after the end of Day 1. Presented here are his feelings about the day. In his own words and with a big smile he started with saying “It was great!”
“Wow! What an amazing start to the 2011 FERMA Forum. Tectonic shift isn’t an expression I think of when it comes to financial services, but when we heard it from our opening speaker, Dr Josef Ackermann, the head of Deutsche Bank, it told us just how big the changes in financial services, especially in banking, really are. It was great for FERMA members to get an in-depth discussion from someone at this level. 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
Jorge Luzzi, Director Group Risk for Pirelli worldwide, today (Wed) in Stockholm took over as President of the Federation of European Risk Management Associations (FERMA) for the next two years. He succeeds Peter den Dekker who has served since 2009. As his final act as President of FERMA, den Dekker presided over the most successful FERMA Risk Management Forum ever, with more than 1500 risk professionals, including risk managers and service providers, taking part in the three day event. He will remain on the board of FERMA. 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.
Video Interview with Jorge Luzzi – new President of FERMA. Continue reading
Interview with Peter Den Dekker – President of FERMA (video). Continue reading