Ferma is formulating a strategy to tackle the issue of global programme compliance in the hope of delivering regulatory rule changes to simplify insurance placement for members.
Ferma has published details of its risk management professional certification programme, known as rimap, and invited risk managers to apply from spring 2016.
European insurance supervisors are taking a close look at cyber risk and its potential impact on the solvency of the insurance industry, according to Ferma.
Ferma has announced that Typhaine Beauperin will take on the newly created role of chief executive at the federation from December as the risk management association continues to mature.
Ferma is forging a partnership with Axco Insurance Information Services (Axco) to bring its global programme compliance database specifically aimed at insurance buyers to members.
A joint education initiative between Lloyd’s and Ferma could form part of the association’s risk manager certification scheme, according to Benno Reischel, Lloyd’s Head of Europe. Lloyd’s is also open to working with other trade bodies on similar educational initiatives, he added.
Risk managers are ultimately responsible for international programme compliance, but insurers could do more, especially in the area of policy wordings, according to a panel debate at the Ferma Forum in Venice.
The risk management industry faces a talent shortage and must work harder to attract and deliver the young, diverse risk managers needed to tackle the new risk landscape, according to leading figures speaking during a panel debate at the Ferma Forum yesterday.
Leading figures at ACE have conceded that insurers are demanding too much onerous risk information from clients and urged their industry to only request data when it is vital to the underwriting process and can improve the coverage on offer to insureds.
Ferma has been called upon to take a 'crystallising role' in bringing the risk management and insurance community closer together.
The majority of European risk managers are failing to properly identify, analyse and understand their organisations’ cyber exposures, primarily due to a lack of risk ownership, finds a new survey by Marsh. The survey also exposes a worrying cyber supply chain risk management shortfall.
XL Catlin's chief regional officer of insurance, Kelly Lyles, has sought to allay risk manager fears about a loss of insurance capacity as a result of the recent deal involving the XL and Catlin groups. She said that the new entity will not reduce the amount of capacity that the two insurers previously offered and does not plan to pull back from any lines of business.
Following a string of corporate crises, Aon warns that business is too complacent about brand and reputation.
Commercial Risk Europe asked leading figures from the world of risk management, including national, regional and global risk management association heads, for their views on some of the topics on everyone’s lips at this year’s Ferma Forum in Venice. Below are their responses to questions on the likely impact of the recent insurance merger and acquisitions, how risk and insurance managers can improve their standing and the ways in which insurers and brokers must develop their service. It is clear from this snap poll and this year’s European Risk Frontiers survey, published this week, that the market still has some serious work to do to try and tackle some deep questions about the way it works and how it could and should respond to the rapidly changing needs of customers.
Commercial Risk Europe’s Ben Norris spoke to AIR Worldwide’s manager and principal scientist, Scott Stransky, about the firm’s forthcoming advanced cyber model to better understand why it is needed, how it will be built and the benefits for both risk managers and insurers.
How do you measure resilience? It is a difficult question, but an important one. According to a pre-Ferma Forum briefing by Zurich, one of the difficulties is that there is a heavy cultural element to resilience that is often reflected in how well companies respond to incidents and losses.
UK risk and insurance managers face some big challenges and opportunities as boards finally wake up to risk, according to Airmic CEO John Hurrell.