In association with its 22 national association members in 20 countries, FERMA will on 22 April launch the 2014 FERMA Risk Management Benchmarking Survey.
To create it, FERMA has worked extensively with its member associations plus five commercial partners: AXA Corporate Solutions, Ernst & Young, Marsh, XL Group and Zurich. Based on this collaboration, the survey will ask risk and insurance managers for their views on:
- The most significant risks that businesses face today;
- The cost of risk, including insurance, risk consulting costs and broker remuneration;
- The relationships between risk management and other internal functions of the organisation;
- Risk management and corporate performance;
- The identification and insurability of emerging risks such as cyber risks, environmental liabilities and supply chain exposures;
- EU hot topics and their impacts for company governance and insurance markets.
The results of this survey will form the basis of the first FERMA European Risk and Insurance Report, which will be published at theFERMA Seminar in Brussels on 20 and 21 October 2014.
Cristina Martinez, FERMA board member and head of the survey committee, explains: “This seventh edition of the 2014 FERMA Risk Management Benchmarking Survey will be more quantitative and practical than previous versions of the survey and provide more benchmarks for comparison, including with the results of surveys conducted by national association. Our intention is to create a reference work for risk and insurance managers throughout Europe that will also provide a tangible basis for reporting to senior management on risk management.”
FERMA president Julia Graham, a former Airmic chairman, adds, “Many association members have activities in a number of European countries, so being able to benchmark themselves at European level will be invaluable. At the same time, we need the participation of as many members as possible to make the results truly representative of the views of risk and insurance managers across Europe.”
The FERMA Risk Management Benchmarking Survey, which takes place every other year, is already the widest expression of the views of risk and insurance managers across Europe with more than 800 responses in 2012. An independent research company, Toluna, will collect the responses and compile the results.
Chris Mc Gloin
Airmic chairman, Chris McGloin, says: “To create this survey FERMA has worked extensively with Airmic and its other member associations so that the results will be a valuable tool for risk managers. I have urged Airmic members to take part. The more responses we gather, the more useful the survey will be for us.”
According to FERMA Vice President and ANRA board member, Alessando De Felice, “The FERMA Risk Management Benchmarking Survey stands as the largest European survey on risk managers. Our aim is to further strengthen the quantitative aspect of the survey. This way, we will be able to produce results that will have a lasting value for individual risk managers as well as national associations that are part of FERMA. The evidence that the report will highlight will be a starting point for further analysis and will form a solid basis for future reports, to analyse how the situation evolves over time and in the different countries where risk managers operate.”
FERMA association members will receive an invitation to participate in the survey with a link to the questionnaire. Anyone would like to take part but who does not receive an invitation, can contact Christel Jaumoulle at email@example.com giving their first and last name, business title, company, country and email address.
More information about the FERMA Benchmarking Survey 2014 available here