FERMA is concerned that the revised version of the Insurance Mediation Directive does not treat all insurance buyers equally particularly when it comes to standards of disclosure. In the current version of IMD2, only individual policyholders and small businesses would be entitled to disclosure of their intermediary’s remuneration. Continue reading →

The FERMA board and presidents of the national associations will learn in April the results of the first stage regarding the creation of a European certification of professional competence in risk management.
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FERMA believes that all insurance buyers are entitled to a minimum European standard of disclosure in the revised Insurance Mediation Directive (IMD2).
At present, the Directive only covers consumers and small businesses. It does not protect:
Large risks, typically those insured by FERMA members
What are called professional customers, including many medium sized enterprises
FERMA has restated this opinion to the European Parliamentary Economic and Monetary Affairs Committee which is now considering the draft Directive. It will go to Parliament for a final vote in July.

This is the view FERMA has strongly expressed in a position paper to the Parliamentary Economic and Monetary Affairs Committee which will consider the draft directive before it goes to Plenary for a final vote in July. Continue reading →

We just have finished a very exciting year, full of challenges, but also full of achievements. Among the high points was the wonderful seminar in Versailles. Continue reading →

FERMA Risk Management Seminar 2012 Presentations – “Panel Debate 5: The Role of Financial Institutions in the Current Economic Climate” Continue reading →

The French city of Versailles, 20 km outside Paris, has two palaces: the vast Royal Palace with its famous 75m mirrored ballroom, and on its doorstep, the Palais des Congrès, a more recent and modest establishment. Continue reading →

The President of FERMA Jorge Luzzi thanks all those who made the 2012 FERMA Seminar a success:

AXA Corporate Solutions and Ernst & Young for their continuing support for our Risk Management Benchmarking Survey. Continue reading →

Florence Bindelle, Executive Manager

The way that EU regulations develop from proposals or green papers into directives some years later is far from transparent and can be very messy. Knowing how to represent the views of risk managers in the right place and at the right time is something that FERMA takes very seriously.

The measures put forward by the EU and its various institutions have an enormous and wide ranging impact on our working lives. Current projects FERMA is monitoring include natural catastrophes, environmental pollution, Solvency II and captives, broker remuneration and the Insurance Medication Directive II, co-insurance and data protection. We are also an official sponsor of the healthy workplaces campaign Working together for risk prevention coordinated by the European Agency for Health and Safety at Work (EU-OHSA).

These are projects which continue to develop, but have been underway for some time. Our aim now is to help our members understand better how EU institutions work. Next year, we’ll be announcing some new ideas, possibly in connection with the general assembly in June.

We ask for our members’ concerns about European matters, primarily through the monthly presidents’ call between FERMA President Jorge Luzzi, and the heads of the national associations. We are also steadily increasing our contacts with EU institutions to raise awareness of FERMA positions, and we join forces with other European associations with similar interests to increase the weight of our views.

We may not make the process of EU law making any tidier but it should be clearer, so the members will be empowered to get their views known where they count.

Maturity of risk management processes is correlated with sustainable improvements in corporate performance, the 2012 Risk Management Benchmarking Survey of the Federation of European Risk Management Associations (FERMA) has revealed. The results of the survey, conducted in cooperation with AXA Corporate Solutions and Ernst & Young, were announced today (Mon) at the FERMA Seminar being held on 22 and 23 October in Versailles, outside Paris. This is the sixth edition of the survey, which has taken place every other year since 2002. The 2012 survey showed that companies with the most advanced risk management showed the strongest level of growth for the past five years, as measured in terms of earnings before interest, taxes, depreciation and amortisation (EBITDA). Continue reading →

The President of FERMA Jorge Luzzi launches the results of the 2012 FERMA Benchmarking Survey Continue reading →