1. FERMA Survey reveals a profession growing in strength to tackle post Covid-19 challenges
For its 10th edition, the 2020 European Risk Manager Survey collected responses from 764 risk managers in 34 countries. Cyber risks remain dominant in the minds of risk managers, and economic instability is a critical issue. Risk managers are also increasingly concerned about the sustainability of their organisations in the long term and the consequences of climate change and natural catastrophes. With the hardening of the insurance market, alternative forms of risk transfer and finance, including captives, are becoming more attractive. This year’s report is now available to download on our website.
2. COVID-19 Outbreak Special Award: nominations are open!
This year the European Risk Management Awards decided to add a COVID-19 Outbreak Special Award. It will reward an individual risk manager who has shown excellence in creating and implementing their COVID-19 crisis management strategy and setting up and rolling out their recovery plan. Nominations are open until 16 October. Eligibility criteria and application are available on the website.
3. FERMA calls for a clarified and targeted Non-Financial Reporting Standard based on ERM
FERMA submitted on 11 June 2020 a response to the public consultation on the review of the Non-Financial Reporting Directive. FERMA supports clarifying, structuring and simplifying non-financial reporting. This should start by defining a clear process to help companies select key sustainability topics that will drive their strategic vision and reporting practices.
4. Building a holistic AI legislative framework that accounts for risk inherent to AI without stifling innovation
In response to the European Commission’s White Paper on Artificial Intelligence, FERMA released its position paper on 12 June 2020. FERMA especially welcomes the risk-based approach to AI and further recommends the promotion and utilisation of risk management methodologies such as ERM and the ‘Three Lines of Defence’ to support this approach.
5. Rimap: extracts of the manuals publicly available
Extracts for the rimap’s learning materials are now available on our website. The 2020 European Risk Manager Report highlighted the importance of professional training for risk managers today with 77% of respondents saying that a recognised certification matters in practising risk management.
6. Rimap certification partnership with UNIBA Partners
Earlier this year, global broker network UNIBA Partners joined forces with FERMA to offer its members exclusive access to the FERMA’s risk management certification program, rimap.
7. FERMA General Assembly 2020 – Board elections and review of the year
The President of FERMA, Dirk Wegener, told the FERMA General Assembly held on 23 June that the experiences and lessons of the COVID-19 crisis would heighten awareness of the value of risk management.
8. FERMA CEO Typhaine Beaupérin appointed for another mandate to EIOPA insurance and reinsurance stakeholder group
European insurance regulatory agency EIOPA has named Typhaine Beaupérin to a new term on the Insurance and Reinsurance Stakeholder Group (IRSG). Typhaine joined the stakeholder group in 2018 and will now serve for four years on the group which has been reconstituted.