Presentation of the FERMA Risk Management Benchmarking Survey 2016 with all results per question

1. In collaboration
with:
FERMA EUROPEAN RISK
AND INSURANCE
SURVEY REPORT 2016

2. In collaboration
with:
8th biennal survey conducted by the Federation of
European Risk Management Associations (FERMA)
In collaboration with:
AIG, CHUBB, EY, MARSH and XL CATLIN.
Presentation of the survey:

3. In collaboration
with:
 39 questions
 Survey Conducted from 8th April to 10thJune 2016
 24 national associations members of FERMA
 1 contact list : others (25 contact list in total)
 634 Respondents
 Based on FERMA standard
Key Facts:

4. In collaboration
with:
Content: Questionnaire
The survey comprises three parts:
PART 1: RISK MANAGEMENT PROFESSION AND PRACTICES IN EUROPE: from S1 to Q16
This part is seeking to reinforce the understanding and positioning of the risk and insurance management
role.
Support the development of the risk and insurance management function.
PART 2: EUROPEAN INSIGHTS ON RISK MANAGEMENT: from Q17 to Q20NEW
This part is seeking to identify the main priorities for EU risk and insurance managers to ensure that
FERMA supports its members’ needs and expectations as regards the risk and insurance management
function.
PART 3: Insurance Management : from Q30 to Q39
This part is seeking to provide EU insight on the evolution of the insurance market and risk managers’
expectations.

5. In collaboration
with:
Sample – Global
All respondents:
Long Completes
+
Short Completes
Associations Total Respondents Total invited Response Rate
AGERS 13 50 26%
ALRIM 37 200 18,50%
ASPAR CZ 5 50 10%
BFV 1 1 100%
DVS 7 90 7,78%
FINNRIMA 20 104 19,23%
SI.RISK 5 11 45,45%
POLRISK 17 100 17%
AIRMIC 59 1063 5,55%
AMRAE 94 748 12,57%
ANRA 57 227 25,11%
APOGERIS 6 58 10,34%
BELRIM 30 122 24,59%
BRIMA 8 11 72,73%
ERMA 32 99 32,32%
DARIM 41 71 57,75%
IGREA 11 41 26,83%
MARM 5 31 16,13%
NARIM 39 158 24,68%
RUSRISK 25 56 44,64%
SIRM 20 106 18,87%
SWERMA 26 226 11,50%
NORIMA 12 55 21,82%
AIG 49 686 7,14%
Others 15 43 34,88%
Total 634 4407 14,39%

6. In collaboration
with:
Sample - 1st,2nd and 3rd Part completed
Long Completes
A respondent is considered
Long Complete if he
answered for all three parts
of the questionnaire.
Associations Long Completes Total invited Response Rate
AGERS 6 50 12%
ALRIM 7 200 3,50%
ASPAR CZ 3 50 6%
BFV 1 1 100%
DVS 6 90 6,67%
FINNRIMA 13 104 12,50%
SI.RISK 4 11 36,36%
POLRISK 10 100 10%
AIRMIC 38 1063 3,57%
AMRAE 57 748 7,62%
ANRA 37 227 16,30%
APOGERIS 5 58 8,62%
BELRIM 20 122 16,39%
BRIMA 6 11 54,55%
ERMA 13 99 13,13%
DARIM 30 71 42,25%
IGREA 10 41 24,39%
MARM 2 31 6,45%
NARIM 32 158 20,25%
RUSRISK 9 56 16,07%
SIRM 17 106 16,04%
SWERMA 15 226 6,64%
NORIMA 8 55 14,55%
AIG 44 686 6,41%
Others 13 43 30,23%
Total 406 4407 9,21%

7. In collaboration
with:
Sample – 1st and 2nd Part completed
Short Completes
A respondent is considered
Short Complete if he
answered for first two
parts of the questionnaire.
Associations Long Completes Total invited Response Rate
AGERS 7 50 14%
ALRIM 30 200 15%
ASPAR CZ 2 50 4%
BFV 0 1 0%
DVS 1 90 1,11%
FINNRIMA 7 104 6,73%
SI.RISK 1 11 9,09%
POLRISK 7 100 7%
AIRMIC 21 1063 1,98%
AMRAE 37 748 4,95%
ANRA 20 227 8,81%
APOGERIS 1 58 1,72%
BELRIM 10 122 8,20%
BRIMA 2 11 18,18%
ERMA 19 99 19,19%
DARIM 11 71 15,49%
IGREA 1 41 2,44%
MARM 3 31 9,68%
NARIM 7 158 4,43%
RUSRISK 16 56 28,57%
SIRM 3 106 2,83%
SWERMA 11 226 4,87%
NORIMA 4 55 7,27%
AIG 5 686 0,73%
Others 2 43 4,65%
Total 228 4407 5,17%

8. In collaboration
with:
406 406 406
228 228
0
100
200
300
400
500
600
700
PART 1 - RISK MANAGEMENT
PROFESSION AND PRACTICES IN EUROPE
PART 2 - EUROPEAN INSIGHTS ON RISK
MANAGEMENT
PART 3 - Insurance Management
Total number of respondents for each part
(Long Complete + Short Complete)
Long Completes Short Completes
SAMPLE

9. In collaboration
with:
Part 1 :RISK MANAGEMENT PROFESSION AND PRACTICES IN
EUROPE
634 634
406
PART 1 - RISK MANAGEMENT PROFESSION
AND PRACTICES IN EUROPE
PART 2 - EUROPEAN INSIGHTS ON RISK
MANAGEMENT
PART 3 - Insurance Management
Total completes for each part

10. In collaboration
with:
Sample - 1st Part
A representative sample of European companies
Female
27%
Male
73%
S1: Are you?
0.3%
3.5%
7.6%
35.5%
36.1%
11.0%
6.0%
Less than 25 years old
Between 25 and 30…
Between 31 and 35…
Between 36 and 45…
Between 46 and 55…
Between 56 and 60…
60+ years old
S2 - What is your age ?
Basis: 634

11. In collaboration
with:
Sample - 1st Part
18.5%
17.5%
18.0%
15.5%
11.7%
11.7%
7.3%
Less than €60k
Between €60k - €80k
Between €81k - €100k
Between €101k - €120k
Between €121k - €150k
Between €151k - €200k
More than €200k
S3 - What is your total annual remuneration (including
bonus and all compensations) ?
Basis: 634
A representative sample of European companies

12. In collaboration
with:

13. In collaboration
with:
10.1%
3.3%
13.6%
10.9%
31.2%
30.9%
Less than €50 million
Between € 50 million and less
than € 100 million
Between € 100 million and less
than € 500 million
Between € 500 million and less
than € 1 billion
Between € 1 billion and €5
billion
More than € 5 billion
13.2%
9.6%
21.6%
11.8%
12.8%
30.9%
Less than 250
Between 250 and less than
1,000
Between 1,000 and 5,000
Between 5,001 and 10,000
Between 10,001 and 20,000
More than 20,000
Q2.1 - Organization’s turnover: Q2.2 - Organization’s total number of employees:
A representative sample of European companies
Sample - 1st Part
Basis: 634

14. In collaboration
with:
44.0%
8.0%
22.2%
12.3%
8.8%
4.6%
Don't know
Negative
Between 0% and 5%
Between 5.1% and 10%
Between 10.1% and 20%
More than 20%
Q2.3 - Organization’s average growth rate (EBITDA - Earnings before interest, taxes, depreciation and
amortization) over the last five years.
A representative sample of European companies
Sample - 1st Part
Basis: 634

15. In collaboration
with:
0.0%
0.8%
0.8%
0.8%
2.4%
95.3%
Latin America
Middle East
Africa
Asia / Pacific
North America
Europe
A representative sample of European companies
Sample - 1st Part
Q3.1 - Where are your organization’s
headquarters ?
5.5%
5.8%
88.6%
National or Country
Division or Regional
Corporate (Head Office)
Q3.3 - Which part of the organization do you work in ?
Basis: 634

16. In collaboration
with:
Yes
47%No
53%
Q4 - Is your organization listed on the stock market ?
A representative sample of European companies
Sample - 1st Part
Basis: 634

17. In collaboration
with:
13.4%
0.0%
0.2%
0.3%
0.3%
0.5%
0.6%
0.8%
0.9%
1.4%
1.6%
1.6%
2.7%
2.8%
4.7%
12.6%
22.9%
32.6%
Other
Security Director / Manager
Health and safety Director / Manager
General / Company Secretary
Compliance Director / Manager
Chief Operating Officer
Business Continuity Director / Manager
Head of Treasury / Treasury manager
President, Chairman
Captive Director / Manager
Chief Financial Officer / Finance Manager
Head of Internal Audit / Audit Manager
Legal Counsel / Head of Legal Department
Chief Executive Officer / Managing Director
Operational Risk Director / Manager
Chief Risk Officer
Risk Director / Manager
Insurance Director / Manager
Q5.1 - Respondent primary position.
A representative sample of European companies
Sample - 1st Part
Less than 5 years
12%
Between 5 and
10 years
25%
More than
10 years
62%
Q5.1 Quater – Respondent relevant professional
experience in risk management and/or insurance.
Basis: 634

18. In collaboration
with:
Yes
54%
No
46%
Q5.1 Ter - Do you have a specific qualification in risk
and/or insurance management ?
A representative sample of European companies
Sample - 1st Part
Q5.2 - Where is your specific qualification in Risk Management or
Insurance from ? (Multiple Answer)
19.5%
27.9%
35.8%
38.7%
Business School
A national risk management association
which is a member of FERMA
University
Professional Institute – please specify the
name of the organisation awarding the
qualification and the level of the
qualification :
Basis: 344Basis: 634

19. In collaboration
with:
Yes
39%
No
61%
Q5.6 - Is your qualification subject to
Continuous Professional Development (CPD)?
Q5.7 - Do you plan to apply for Ferma Certification (Rimap)?
A representative sample of European companies
Sample - 1st Part
Yes
33%
No
67%
Basis: 634

20. In collaboration
with:
A representative sample of European companies
Sample - 1st Part
Basis: 634
7.1%
0.3%
0.8%
0.8%
0.8%
0.9%
0.9%
1.9%
2.4%
2.4%
2.5%
2.8%
3.3%
3.5%
3.6%
3.6%
3.8%
4.4%
4.7%
5.8%
5.8%
6.5%
7.1%
9.3%
10.9%
16.2%
Other, please specify
PARIMA, Asia Pacific
ASPAR CZ, Czech Republic
MARM, Malta
SI.RISK, Slovenia
APOGERIS, Portugal
BRIMA, Bulgaria
NORIMA, Norway
BFV, Germany
POLRISK, Poland
RIMS, United States
IGREA, Spain
FINNRIMA, Finland
AGERS, Spain
RUSRISK, Russia
SIRM, Switzerland
ERMA, Turkey
SWERMA, Sweden
DVS, Germany
ALRIM, Luxembourg
BELRIM, Belgium
NARIM, Netherlands
DARIM, Denmark
ANRA, Italy
AIRMIC, UK
AMRAE, France
Q5.3 - Are you or your organization a member of one of the following Risk Management associations?
(Multiple Answer)

21. In collaboration
with:
52.0% 51.4%
29.4%
16.7%
18.7%
31.9%
Risk Management Insurance
Up to 3
Between 4 to 10
More than 10
Q6.1 - Full time equivalent people working for Risk Management or Insurance
Risk Management Function - 1st Part
Filter on Q3.3
Basis: 562 Basis: 72

22. In collaboration
with:
Risk Management Function - 1st Part
Q7 - Does your organization use (own or rent) a
captive ?
Yes
34%
No
66%
29.4%
44.4%
61.2%
37.9%
9.3%
17.8%
Traditional Lines of Cover Non-traditional Lines of
Cover
More important Identical Less important
Q7.1 - Involvement of the captive in over the next 2
years.
Basis: 634
Basis: 214
Q7.2 - Strategy in regards to risks which are difficult
to place on the insurance market
6.0%
17.4%
42.4%
34.3%
Create a captive insurance
/ re-insurance company
Use alternative risk transfer
vehicles (Rent-a-captives,
protected cell companies,…
Risk retention
Lobby the insurance
market to develop more
innovative solutions
Basis: 420

23. In collaboration
with:
A representative sample of European companies
Risk Management Function - 1st Part
Basis: 634
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Total Insurance premium Outside services TOTAL INSURANCE TOTAL RISK TOTAL COST OF RISK 2015
Q8x2W2016 - Total Cost of Risk in 2015 (in Euros).

24. In collaboration
with:
6.9%
10.3%
4.9%
3.5%
5.8%
3.5%
5.0%
2.2%
26.3%
15.9%
10.7%
4.9%
2.1%
8.8%
10.7%
0.5%
9.3%
4.3%
6.0%
2.1%
35.5%
12.0%
7.6%
1.3%
Risk Committee
President / Chairman
Head of Treasury
Head of Internal Audit
General Counsel / Head of Legal Department
General / Company Secretary
Chief Risk Officer
Chief Operating Officer
Chief Financial Officer
Chief Executive Officer / Managing Director
Board of Directors / Supervisory Board
Audit Committee
Insurance
Risk Management
Risk Management/Insurance report - 1st Part
Q9ALL - To whom does your organization’s Head of Risk Management / Insurance report? Basis: 634

25. In collaboration
with:
2.2%
3.5%
3.5%
4.9%
4.9%
5.0%
5.8%
6.9%
10.3%
10.7%
15.9%
26.3%
Chief Operating Officer
General / Company Secretary
Head of Internal Audit
Audit Committee
Head of Treasury
Chief Risk Officer
General Counsel / Head of Legal Department
Risk Committee
President / Chairman
Board of Directors / Supervisory Board
Chief Executive Officer / Managing Director
Chief Financial Officer
Risk Management report - 1st Part
Basis: 634Q9.1 - To whom does your organization’s Head of Risk Management report?

26. In collaboration
with:
Insurance report - 1st Part
Q9.2 - To whom does your organization’s Head of Insurance report?
0.5%
1.3%
2.1%
2.1%
4.3%
6.0%
7.6%
8.8%
9.3%
10.7%
12.0%
35.5%
Head of Internal Audit
Audit Committee
Chief Operating Officer
Risk Committee
General / Company Secretary
Chief Risk Officer
Board of Directors / Supervisory Board
President / Chairman
General Counsel / Head of Legal Department
Head of Treasury
Chief Executive Officer / Managing Director
Chief Financial Officer
Basis: 634

27. In collaboration
with:
Risk management/insurance leader
responsibility - 1st Part
Q10A - In your organization, which of the following activities are the responsibility of the risk management or insurance leader
– and are they already embedded or planned?
RM’s or IM’s Responsibility - Yes
31.7%
40.9%
47.5%
53.9%
61.8%
62.9%
65.5%
67.7%
68.0%
73.5%
74.8%
Analysis of capital projects and delivering business plans
Definition of compliance (Management, Framework, embedding and assurance)
Design and implementation of risk financing strategy and association solutions
Development and embedding of Business Continuity Management / Emergency
Management / Crisis Management / Incident response programes and solutions
Alignment and integration of risk management as part of business strategy
Define a risk appetite strategy / statement
Assistance to other functional areas in contract negotiation, project management,
acquisitions and investments
Development and implementation of Risk Culture across the organization
Design and implementation of risk controls/prevention
Insurance management and claims handling / insurable loss prevention
Development of map of risks: risk identification, analysis, evaluation, prioritization and
reporting
Basis: 634
104 Respondents skipped the
question (16,4%)– not mandatory-

28. In collaboration
with:
Risk management/insurance leader
responsibility - 1st Part
Q10B - In your organization, which of the following activities are the responsibility of the risk
management or insurance leader – and are they already embedded or planned?
51.1%
66.2%
49.1%
58.5%
71.8%
58.0%
34.5%
43.5%
50.8%
45.6%
42.0%
14.7%
10.3%
16.6%
8.4%
4.7%
14.0%
9.3%
10.4%
18.0%
21.5%
13.1%
17.5%
7.1%
18.0%
16.7%
7.1%
11.5%
39.7%
29.7%
14.8%
16.6%
28.5%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
16.4%
Define a risk appetite strategy / statement
Development of map of risks: risk identification, analysis, evaluation,…
Alignment and integration of risk management as part of business…
Assistance to other functional areas in contract negotiation, project…
Insurance management and claims handling / insurable loss prevention
Design and implementation of risk controls/prevention
Analysis of capital projects and delivering business plans
Design and implementation of risk financing strategy and association…
Development and implementation of Risk Culture across the…
Development and embedding of Business Continuity Management /…
Definition of compliance (Management, Framework, embedding and…
Embedded Planned for 2015/16 Not planned Skip question
Basis: 634
104 Respondents skipped the question
(16,4%)– not mandatory-

29. In collaboration
with:

30. In collaboration
with:
No
relationship
37.5%
Regular, close
collaboration
37.9%
Risk mgr's own
responsibility
11.8%
Not applicable
12.8%
Strategic planning business
No
relationship
18.5%
Regular, close
collaboration
58.0%
Risk mgr's
own
responsibility
15.5%
Not
applicable
8.0%
Ethics / Compliance / Legal
Risk management/insurance leader
interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (1/6) Basis: 634

31. In collaboration
with:
Risk management/insurance leader
interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (2/6)
No
relationship
39.0%
Regular,
close
collaboration
33.9%
Risk mgr's own
responsibility
10.6%
Not
applicable
16.6%
Corporate Social Responsibility
Sustainability / Sustainable
Development No
relationship
10.6%
Regular, close
collaboration
48.4%
Risk mgr's own
responsibility 30.8%
Not
applicable
10.3%
Business Continuity / Crisis Management
Basis: 634

32. In collaboration
with:
Risk management/insurance
leader interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (3/6)
No relationship
18.1%
Regular,
close
collaboratio
n 58.8%
Risk mgr's own
responsibility
13.7%
Not
applicable
9.3%
Internal Control / Internal Audit
No
relationship
37.5%
Regular,
close
collaboratio
n 40.7%
Risk mgr's own
responsibility 9.6%
Not
applicable
12.1%
IT- for major projects
Basis: 634

33. In collaboration
with:
Risk management/insurance leader
interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (4/6)
No
relationship
32.2%
Regular,
close
collaboration
42.3%
Risk mgr's own
responsibility
10.6%
Not
applicable
15.0%
Investments and investors relations
No
relationship
26.3%
Regular, close
collaboration
45.0%
Risk mgr's own
responsibility
9.8%
Not
applicable
18.9%
Mergers & Acquisitions – for acquisitions
/ transfers decisions
Basis: 634

34. In collaboration
with:
Risk management/insurance leader
interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (5/6)
No
relationship
31.5%
Regular,
close
collaboratio
n 45.7%
Risk mgr's own
responsibility 7.6%
Not
applicable
15.1%
Sourcing / Procurementted
No
relationship
25.4%
Regular, close
collaboration
47.2%
Risk mgr's own
responsibility
7.6%
Not applicable 19.9%
Manufacturing / Logistics / Distribution /
Quality
Basis: 634

35. In collaboration
with:
Risk management/insurance leader
interactions - 1st Part
Q12.1 - Please tell us the relation of your organization’s risk management / insurance
function with other areas / issues. (6/6)
No relationship
7.3%
Regular, close
collaboration 35.0%
Risk mgr's own
responsibility
49.5%
Not applicable 8.2%
Insurance Managementted
No
relationship
35.5%
Regular,
close
collaboration
44.2%
Risk mgr's own
responsibility 7.6%
Not
applicable
12.8%
HR - Employee Benefitsted
Basis: 634

36. In collaboration
with:
Risk management/insurance
Organization - 1st Part
Q13 - Which of the following organization forms most closely describes that of your
company ?
11.0%
23.8%
33.9%
7.7% 7.7%
15.8%
All functions
together in a
single
department
All functions
separate in four
different
departments
Risk and
Insurance
Management
together
Risk
Management and
Internal Control
together
Internal Audit
separate
Insurance
Management
separate
Basis: 634

37. In collaboration
with:
Risk management/insurance
Organization - 1st Part
Q14 - To what extent does your organization prioritize risks by mapping them ?
25.9%
49.1%
3.5%
10.9% 10.7%
On a global
corporate level only
(strategic, financial
and operational)
From corporate level
down to divisions
and business units
Only for certain
business units
Only for certain
categories of risks
No such approach
has been put in
place yet
Basis: 634

38. In collaboration
with:
Risk management/insurance
Organization - 1st Part
Q16 - Do you use IT / GRC (Governance, Risk and Compliance) tools to manage the
following Risk Management / insurance activities? (YES) Basis: 634
55.4%
52.1%
34.1%
45.6%
35.2%
44.6%
56.6%
49.2%
Risk mapping
Risk registers
Scenario Analysis
Risk quantification
Risk appetite and tolerance
Claims analysis
Risk reporting / Risk dashboards
Monitoring of risk mitigation actions / controls

39. In collaboration
with:
Part 2 : EUROPEAN INSIGHTS ON RISK
MANAGEMENT
634 634
406
PART 1 - RISK MANAGEMENT
PROFESSION AND PRACTICES IN
EUROPE
PART 2 - EUROPEAN INSIGHTS ON
RISK MANAGEMENT
PART 3 - Insurance Management
The number of Long Completes + Short Completes

40. In collaboration
with:
Top 10 risks and level of
mitigation - 2nd Part
Q17.1&2 - In terms of impact –
What are the top ten risks that threaten the successful achievement of your organization’s
strategic objectives? (Multiple Answer, list of 33 items)
38.2%
40.2%
45.4%
46.5%
48.3%
48.6%
55.5%
59.5%
60.4%
63.4%
Interest rate & Foreign exchange
IT systems and data centers
Market strategy, clients
Cyber-attack / data privacy
Reputation and brand
Competition
Noncompliance with regulation and legislation
Political, country instability (crisis, war,
regulatory changes)
Business continuity disruption
Economic growth/slowdown
Basis: 634

41. In collaboration
with:
Top 10 risks and level of mitigation -
2nd Part
Q17.3&4 - In terms of likelihood –
What are the top ten risks that threaten the successful achievement of your organization’s
strategic objectives? (Multiple Answer, list of 33 items)
39.9%
41.6%
42.6%
46.1%
47.5%
49.4%
55.8%
56.5%
57.7%
63.2%
Strategic project failures
Interest rate & Foreign exchange
IT systems and data centers
Cyber-attack / data privacy
Market strategy, clients
Noncompliance with regulation and legislation
Competition
Political, country instability (crisis, war, regulatory
changes)
Business continuity disruption
Economic growth/slowdown
Basis: 634

42. In collaboration
with:
Top 10 risks and level of
mitigation - 2nd Part
Q19.1 - Please assess the current level of mitigation for the areas risks you have previously identified:
Mitigation level
36.0%
32.5%
28.5%
30.8%
35.6%
23.4%
38.6%
12.2%
36.3%
13.9%
45.0%
52.9%
51.4%
47.1%
42.5%
54.9%
40.3%
36.1%
47.5%
45.0%
19.0%
14.5%
20.1%
22.0%
21.9%
21.8%
21.0%
51.7%
16.2%
41.0%
Interest rate & Foreign exchange
IT systems and data centers
Market strategy, clients
Cyber-attack / data privacy
Reputation and brand
Competition
Noncompliance with regulation and legislation
Political, country instability (crisis, war, regulatory…
Business continuity disruption
Economic growth/slowdown
High Mid Low
Basis: 402
Basis: 383
Basis: 377
Basis: 352
Basis: 308
Basis: 306
Basis: 295
Basis: 288
Basis: 255
Basis: 242

43. In collaboration
with:
Top 10 risks and level of
mitigation - 2nd Part
Q19.2 - Please assess the current level of mitigation for the areas risks you have previously identified:
Mitigation strategy
41.3%
60.8%
53.8%
59.7%
56.5%
49.0%
64.2%
23.6%
49.9%
26.9%
33.5%
17.6%
7.3%
19.3%
5.6%
2.9%
5.4%
10.6%
33.7%
3.7%
25.2%
21.6%
38.9%
21.0%
37.9%
48.1%
30.4%
65.8%
16.4%
69.4%
Interest rate & Foreign exchange
IT systems and data centers
Market strategy, clients
Cyber-attack / data privacy
Reputation and brand
Competition
Noncompliance with regulation and legislation
Political, country instability (crisis, war, regulatory…
Business continuity disruption
Economic growth/slowdown
Reduction Transfer Accepted
Basis: 402
Basis: 383
Basis: 377
Basis: 352
Basis: 308
Basis: 306
Basis: 295
Basis: 288
Basis: 255
Basis: 242

44. In collaboration
with:
34.7%
23.9%
18.4%
20.3%
31.4%
20.1%
30.1%
16.7%
32.1%
13.9%
50.0%
59.6%
63.2%
56.6%
53.9%
56.8%
56.8%
53.8%
53.3%
56.7%
15.3%
16.5%
18.4%
23.1%
14.7%
23.1%
13.1%
16.7%
14.6%
29.4%
Interest rate & Foreign exchange
IT systems and data centers
Market strategy, clients
Cyber-attack / data privacy
Reputation and brand
Competition
Noncompliance with regulation and legislation
Political, country instability (crisis, war, regulatory…
Business continuity disruption
Economic growth/slowdown
High Mid Low
Basis: 402
Basis: 383
Basis: 377
Basis: 352
Basis: 308
Basis: 306
Basis: 295
Basis: 288
Basis: 255
Basis: 242
Top 10 risks and level of
mitigation - 2nd Part
Q19.3 - Please assess the current level of mitigation for the areas risks you have previously identified:
Satisfaction level

45. In collaboration
with:
FERMA priorities at EU level - 2nd Part
Q20NEW - Among the following current regulatory matters, what should be the first
3 priorities for FERMA at EU level?
Basis: 581
28.9%
32.9%
32.9%
41.5%
52.2%
54.7%
57.0%
Enforcement of Solvency 2 and impacts for
captives
The possibility of an EU-wide mandatory
financial security (bonds, letter of credit,…
A future EU regulation on the European cyber
insurance market
Standardisation of cybersecurity norms
Risks connected to the increased reporting
and transparency requirements (reputation,…
Data Protection Regulation implementation
Give a legal basis to the Risk Manager
profession
Optional for non-EU
organisations

46. In collaboration
with:
PART 3: EUROPEAN INSIGHTS ON
RISK MANAGEMENT
634 634
406
PART 1 - RISK MANAGEMENT
PROFESSION AND PRACTICES IN
EUROPE
PART 2 - EUROPEAN INSIGHTS ON
RISK MANAGEMENT
PART 3 - Insurance Management
The number of Long Completes - Part 3

47. In collaboration
with:
Changes of Insurance Program - 3rd Part
Q30 - Which of the following changes to your insurance program will you consider as a
result of the current financial and economic climate ? (Multiple Answer)
9.6%
24.1%
27.3%
30.5%
32.8%
42.9%
53.7%
Purchase of credit insurance
Implementation or further use of captive facilities
Selection of more financially robust insurers
Acceleration of claims settlement process
Insurance buying pattern
Negotiate long-term agreement or roll-over
Strengthen loss prevention activity
Basis: 406

48. In collaboration
with:
Changes of Insurance Program -
3rd Part
Q30.1 - Could you please define for each item below if it increases/decreases or stay identical?
Insurance
buying pattern:
33%
48.9% 45.9%
55.6%
11.3%
10.5%
3.8%
39.8% 43.6% 40.6%
Retention level Purchased limit Lines of cover
Identical
Decrease
Increase
Basis: 133

49. In collaboration
with:
Types of insurance - 3rd Part
Q31 - What overall limit does your organization benefit from per annual aggregate, independent of
sublimits, for the following types of insurance?
Basis: 406
26.8%
25.9%
38.9%
37.4%
43.1%
25.1%
17.5%
27.3%
22.2%
27.1%
14.0%
16.3%
6.7%
9.9%
21.4%
20.4%
20.0%
5.7%
11.1%
3.0%
22.7%
18.0%
16.3%
6.7%
4.2%
6.4%
1.7%
45.3%
6.4%
15.3%
7.4%
38.7%
23.2%
63.5%
4.7%
Public Liability
Product Liability
Directors' & Officers' Liability
Gradual Environmental impairment…
Errors & Omissions / Professional Liability
Cyber risk coverage
Property (including business interruption)
<50M EUR 50 – 100M EUR 101 –300M EUR >300M EUR No coverage

50. In collaboration
with:
Types of insurance - 3rd Part
Q32 - How do you select your purchased limit per types of insurance ? (Multiple Answer)
74.1%
54.9%
47.3%
23.2% 21.4% 20.0%
4.4%
Basis: 406

51. In collaboration
with:
Types of insurance - 3rd Part
Q33 - In your opinion, what is commonly the most efficient international insurance
program for the following risks?
17% 10%
26%
4%
13% 14%
5% 10% 11% 8%
32%
14%
44%
11%
30% 34%
8%
36% 33% 39%
20%
12%
16%
17%
22% 19%
19%
35% 39% 40%
8%
12%
3%
35%
11% 7%
53%
3% 7% 3%23%
51%
11%
33% 25% 25%
16% 16% 10% 11% No opinion / don't know
Local standalone policies
only
Master policy & local policies
limited to selected countries
Master policy and local
policies in each country
where the insured is present
Basis: 406

52. In collaboration
with:
Types of insurance - 3rd Part
Q34 - What is your main reason for implementing local standalone policies in
certain countries ?
3.9%
12.8%
15.5%
4.9%
2.0%
54.4%
6.4%
Cost
implications
Service
proximity (of
insurers,
brokers, and
third parties)
Local risk
profile
(influenced by
level of
protection,
claims history
etc.)
Political and
economic
background of
the country
Pressure of
local entity to
remain out of
the program
Compliance to
local regulation
Other
Basis: 406

53. In collaboration
with:
Types of insurance - 3rd Part
Q36 - On average, at last renewal when were your policy documents issued in relation to
the policy inception date for …?
Basis: 406
Before inception
date
18%
Within 1
month of
inception
date
33%
Within 3
months of
inception
date
34%
Over 3 months of
inception date
15%
Master policy
Before inception date
15%
Within 1 month of
inception date
25%
Within 3
months of
inception
date
44%
Over 3 months of
inception date
16%
Local policy issuing

54. In collaboration
with:
Loss control services and claims
handling - 3rd Part
Q37A - What are the 3 main areas of improvement related to loss control services and claims handling? (Multiple Answer)
36.9%
25.9%
26.1%
11.1%
11.6%
9.4%
35.5%
18.2%
38.7%
13.5%
29.3%
20.7%
Policy wording tests
Set-up of claims handling procedure
Building relationships between insured, insurers and brokers
Pre-selection of lawyers and adjusters
Crisis management simulations
Return phone calls within 24 hours
Coordination between teams involved (in house, broker,…
Adequate and realistic reserve and evolution of reserve
Confirmation of position on coverage as quickly as reasonably…
30 days advanced payment once coverage is confirmed
Learnt lessons analysis
Automatic access to worldwide claims reporting
For your service providers (brokers, insurers, third parties) Basis: 406

55. In collaboration
with:
Loss control services and
claims handling - 3rd Part
Q37B - What are the 3 main areas of improvement related to loss control services and claims handling? (Multiple
Answer)
Within your own organization
20.2%
36.2%
22.7%
12.1%
45.6%
4.7%
29.8%
7.4%
11.1%
4.7%
53.9%
12.8%
Policy wording tests
Set-up of claims handling procedure
Building relationships between insured, insurers and…
Pre-selection of lawyers and adjusters
Crisis management simulations
Return phone calls within 24 hours
Coordination between teams involved (in house, broker,…
Adequate and realistic reserve and evolution of reserve
Confirmation of position on coverage as quickly as…
30 days advanced payment once coverage is confirmed
Learnt lessons analysis
Automatic access to worldwide claims reporting
Basis: 406

56. In collaboration
with:
Loss control services alongside
insurance policies - 3rd Part
Q37A.bis. What are the main areas of improvement related to loss control
services alongside insurance policies?
For your service providers (brokers, insurers, third parties) - YES
60.3%
61.1%
65.5%
48.0%
35.0%
Property
Liability (public,
products)
Cyber
D&O
Motor
Basis: 406

57. In collaboration
with:
Loss control services alongside
insurance policies - 3rd Part
Q37B.bis. What are the main areas of improvement related to loss control services
alongside insurance policies?
Within your own organization - Yes
Basis: 406
57.6%
66.0%
68.2%
46.1%
40.6%
Property
Liability (public, products)
Cyber
D&O
Motor

58. In collaboration
with:
Use(s) of claims - 3rd Part
Q38 - Please select among following items the 3 most significant use(s) of claims
related data. (Multiple Answer)
7.1%
17.0%
23.2%
27.8%
42.6%
44.6%
45.1%
66.3%
I do not conduct risk and insurance data analysis
Improve benchmarking abilities
Provide rationale for the risk management budget
Allow you to conduct captive optimization
Understand the company's risk appetite and tolerance
Assess the cost of uninsured risks
Allow you to conduct insurance program limit optimization
Allow you to conduct insurance program retention
optimization
Basis: 406

59. In collaboration
with:
Areas of improvement - 3rd Part
Q39A - What are the top 2 areas of improvement you expect from a risk and
insurance management IT platform / portal? (Multiple Answer)
Filter on Q16
Basis: 306
25.5%
19.6%
39.5%
23.2%
40.2%
21.2%
16.0%
24/7 access
Daily update of activity & documents
Claims management tools
Interactivity
Tailor-made and user-friendly reporting…
Technical information/ advice/ best…
Management schedules / planning
In-house IT tool

60. In collaboration
with:
Areas of improvement - 3rd Part
Q39A - What are the top 2 areas of improvement you expect from a risk and insurance
management IT platform / portal? (Multiple Answer)
External IT solution (broker or insurer-provided) Basis: 306
Filter on Q16
27.1%
21.9%
34.0%
28.8%
37.6%
27.5%
7.8%
24/7 access
Daily update of activity & documents
Claims management tools
Interactivity
Tailor-made and user-friendly…
Technical information/ advice/ best…
Management schedules / planning

61. In collaboration
with:
Thank you
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