The view of FERMA members when asked about environmental issues is that good standards of safety are established in their companies, adequate insurance is purchased and the regulators are diligent in enforcement of legislation.
FERMA is not in favor of the establishment of a fund and we are strictly opposed to any mandatory coverage either through a fund, a pool or any other insurance scheme.
As far as we can see it by now, the insurance sector is able to provide adequate coverage both for claims for traditional damage as well as for costs of remediating pollution and other environmental damage.
In our point of view solutions provided by the insurance industry are always preferable to any fund scheme. Fund schemes tend to become very expensive, e.g . when it comes to the transaction costs and do not take into account the prevention efforts made by the insured.
FERMA understand however that special solutions may be needed for SMEs or particular types of operations (offshore, nuclear…)
3. Some facts and figures…
Countries (20) Members (22)
• National Associations of Insurance Belgium BELRIM
Czech Republic ASPAR CZ
and Risk Management appeared in Denmark DARIM
Europe in the early 70’s Finland FinnRima
France AMRAE
Germany BfV & DVS
• In 1974, six of them decided to create Italy ANRA
a European Federation called AEAI Luxembourg PRIM
Malta MARM
Norway NORIMA
• In 1986, AEAI became FERMA with 10 The Netherlands NARIM
associations Poland POLRISK
Portugal APOGERIS
Russia RUSRISK
• Today FERMA gathers 22 Associations Slovenia SI.RISK
in 20 countries and is still growing Spain AGERS & IGREA
Sweden SWERMA
Switzerland SIRM
Turkey ERMA
UK AIRMIC
4. Ferma representation
• Over 4800 risk and insurance managers
• More than 2000 European companies
• Cross Sectors (80% Private and 20% Public)
• 55% of companies have a turnover above € 2 billion
• 59% have more than 5000 employees
• Therefore FERMA members are representing the
“Large risks” sector of the European industry.
5. FERMA Structure
Jorge Luzzi
President
Alessandro de
Michel Dennery
Felice
Vice President
Vice President
Florence
Pierre Sonigo Fernand De
Bindelle
Secretary Winter
Executive
General Treasurer
Manager
6. Our Mission & Objectives (1)
Coordinate, promote and support the development and
use of risk management, insurance and risk financing in
Europe
• Set and promote professional practices and standards
• Organize conference, seminars, forums
• Maintain a two way communication with national associations
on development and application of risk management
• Set up surveys and benchmarks to identify and share current
practices
• Facilitate the development of new associations in European
countries
7. Our Mission & Objectives (2)
Be a significant stakeholder in the decision making process
at the European level on Risk Management , Insurance and
Risk financing issues
Monitor new regulations and standards
Detect early issues that can impact our profession
Propose and co-ordinate positions with member associations on
relevant issues
Issue guidance and position papers
Maintain interest representation with the European institutions
Establish technical alliances and ad hoc coalitions with other
stakeholders
8. The EU regularly hits the risk
management headlines
Source: Commercial Risk Europe
8
9. Recent activities with European Institutions
Position papers, technical papers and responses to consultations e.g.
Solvency II, collective redress, business insurance inquiry
Attendance and speaking slots at public hearings e.g. Review of
Insurance Mediation Directive
Meetings with EU officials and Members of European Parliament (MEPs)
FERMA/BIPAR Protocol on the transparency of intermediation in
business insurance
FERMA Guidance on 8th Company Law Directive and Roundtable on
risk management in response to the European Commission's Green
Paper on Corporate Governance
9
11. Structure of the Survey: 3 Sections
Risk Governance
This section is dedicated to look how Risk Management is governed
internally, the objectives pursued by Risk Management in the company
and the risk disclosures
Risk Management Practices
This section analyses the internal organisation structure and how Risk
Management is involved and coordinated with other activities. It also
focused on the way risk management is perceived
Insurance Management
This section is analyses the insurance market perception
and the new expectations related to insurance solutions
12. Recent activities on ELD
FERMA has been active on this subject since the early
stages of the Directive.
FERMA has been a member of Insurance Europe Working
Group on ELD representing the point of view of large
insurance buyers
FERMA has been in regular contact with Insurance
companies to develop an adequate insurance scheme for
its members
The subject of ELD has been discussed regularly in
workshops at FERMA European Forum and Seminars and
in National associations events.
Articles on ELD written by FERMA representatives have
been published in the European professional press
12
13. FERMA preliminary position
• The view of FERMA members when asked about environmental
issues is that good standards of safety are established in their
companies, adequate insurance is purchased and the regulators are
diligent in enforcement of legislation.
• FERMA is not in favor of the establishment of a fund and we are
strictly opposed to any mandatory coverage either through a fund, a
pool or any other insurance scheme.
• As far as we can see it by now, the insurance sector is able to
provide adequate coverage both for claims for traditional damage
as well as for costs of remediating pollution and other
environmental damage.
• In our point of view solutions provided by the insurance industry
are always preferable to any fund scheme. Fund schemes tend to
become very expensive, e.g . when it comes to the transaction
costs and do not take into account the prevention efforts made by
the insured.
• FERMA understand however that special solutions may be needed
for SMEs or particular types of operations (offshore, nuclear…)
13
14. Thank you for your attention !
FERMA aisbl.
Avenue Louis Gribaumont 1 / B.4
B-1150 Brussels, Belgium
Phone: +32 2 761 94 32
Email: florence.bindelle@ferma.eu
WWW.FERMA.EU