Twenty candidates from 12 countries have been selected for the first FERMA-Lloyd’s professional development initiative for risk managers. Announcing their names at the FERMA 2011 Risk Management Forum in Stockholm, Benno Reischel, Lloyd’s head of Northern Europe, international markets, said that it was a “logical step” for Lloyd’s to sponsor and provide the FERMA programme, because it had for many years valued professional training and risk management as prime elements of success. “We want to support the risk management community by combining an insight into practical insurance topics with risk management needs, including the possibility for the participants to experience Lloyd’s and the London marketplace personally on the spot,” stated Reischel. Continue reading →

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 →

Dr Josef Ackermann, Chairman of the Management Board and of the Group Executive Committee of Deutsche Bank, opened the 2011 Risk Management Forum of the Federation of European Risk Management Associations (FERMA) in Stockholm today with a keynote speech on the future of the financial industry. Continue reading →

The president of the largest organisation of European risk managers today (Mon) called on reinsurers to work with their ultimate customers, corporate insurance buyers, to develop solutions for the risks highlighted by the spate of natural catastrophes over the last two years. Opening the 2011 Risk Management Forum of the Federation of European Risk Management Associations (FERMA), the President Peter den Dekker said reinsurers needed to understand how business models had changed so they could support insurers in devising innovative solutions to risks that companies face now and will do in future. Continue reading →

A record number of 1521 risk professionals, including 436 individual risk managers, are taking part in the 2011 Risk Management Forum of the Federation of European Risk Management Associations (FERMA) in Stockholm, which opened this morning (Mon) and will continue through Wednesday. This is the first time FERMA, which is the largest European organisation of risk and insurance managers, has hosted an event in Scandinavia. Formally launching the Forum, the President of FERMA, Peter den Dekker, said that the large number of risk managers and service providers taking part in the event was an acknowledgement of FERMA’s increasing strength as the voice for risk managers throughout Europe. With the acceptance of Malta and Slovenia into membership just before the Forum, FERMA now has members in 19 European countries and represents over 4,000 individual risk and insurance managers Continue reading →

Risk managers are under constant pressure to innovate, to find new and often imaginative ways of helping their companies, in an environment of uncertainty and continuing change, the President of the Federation of European Risk Management Associations (FERMA), Peter den Dekker, stated at the opening reception of the 2011 FERMA Risk Management Forum in Stockholm. He said: “Business models and processes are both different and more complex than they were ten, or even five years ago. We face economic uncertainty on a scale that many of us have never experienced before. The theme for the 2011 FERMA Forum is shaping up for the future. Risk managers have to be fit to manage a process of continual change without knowing what the future will look like and what the risks will be.” Continue reading →

No more EU corporate governance rules needed now, say European risk managers. The Federation of European Risk Management Associations (FERMA) has told the European Commission that it should start with “implementation and robust enforcement” of existing EU corporate governance rules on risk management, rather than creating new ones now. This comment is contained in FERMA’s response, released today, to the consultative green paper on corporate governance framework produced by Commission staff. Continue reading →

The Federation of European Risk Management Associations (FERMA) has elected three new board members who will serve from now until June 2014. They are: Helle Friberg (of the Danish association DARIM), Igor Mikhaylov (from the Russian association RUSRISK) and Arnout van der Veer (from the Dutch association NARIM). Continue reading →

The International Federation of Risk and Insurance Management Associations (IFRIMA) welcomes the flexibility and understanding of the Brazilian government in responding to the world-wide concern about its new reinsurance regulations. At the same time, IFRIMA, which represents commercial insurance buyers from across the world, believes that more needs to be done to limit the negative impact on insurance capacity and cost. Continue reading →

The Federation of European Risk Management Associations (FERMA) has welcomed as a good first step the response of the Brazilian government to complaints and concerns from
corporate insurance buyers and national and international reinsurance markets about restrictive executive orders rolling back liberalisation of the market. Continue reading →