FERMA member association Airmic has produced together with Chartis a guide to captive insurance companies. Continue reading →

President meets the Commission; Things in common; Flood, storm, earthquake and drought. 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 will express concern to the European Commission that it is trying to develop more regulations on corporate governance and risk management too quickly. Instead, FERMA believes the Commission should examine existing laws to make sure they are appropriate, and then enforce them, rather than rush to create new legislation. There should be more emphasis on implementation of the 8th Company Law Directive, which is in effect, and appropriate harmonisation of existing national corporate governance frameworks, FERMA board member Michel Dennery has indicated will be one of FERMA’s comments. Continue reading →