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FERMA presentation at the
  Workshop on ELD Fund


         Florence Bindelle
        Executive Manager
              Brussels
        November 7, 2012
What is FERMA?
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
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.
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
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
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
The EU regularly hits the risk
  management headlines




   Source: Commercial Risk Europe
                                    8
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
Ferma Risk Management
Benchmarking Survey 2012
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
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
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
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

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FERMA opposes the Environmental Liability Directive Fund

  • 1. FERMA presentation at the Workshop on ELD Fund Florence Bindelle Executive Manager Brussels November 7, 2012
  • 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