Risk Management Standard

The Risk Management Standard sets out a strategic process, starting with an organisation’s overall objectives and aspirations, through to the identification, evaluation and mitigation of risk, including the transfer of some of that risk by insurance or contract to insurers and third parties. It intends to serve risk managers and to encourage international consensus on what is best practice.

FERMA has adopted the Risk Management Standard, published in the United Kingdom in 2002. Versions in several languages of this pan-European standard of best practice in risk management are available for risk managers. The Risk Management Standard is the work of three UK risk management bodies in the UK, the private and public sector risk management associations, AIRMIC and ALARM, and the Institute of Risk Management (IRM), the profession’s educational body. The Risk Management Standard sets out a strategic process, starting with an organisation’s overall objectives and aspirations, through to the identification, evaluation and mitigation of risk, and finally the transfer of some of that risk to an insurer.

Download “Risk Management Standard” in different languages

Credit-card sized summaries of the Standard are available free of charge on request (English, French, German, Spanish, Italian, Danish and Dutch). These contain a copy of the Risk Management Process diagram. These cards can be used for quick reference, and also for distributing at talks/seminars etc.

The Risk Management Process diagram itself is also available (online only) in Arabic, Chinese and Japanese.

FERMA also has concertina cards (leaflets) with the Risk Management Process in all languages. To request summary or concertina cards, please use our contact form, stating the number of cards required.


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