FERMA Members Bulletin - October
1- SUCCESSFUL FIRST EUROPEAN TALK SHOW: 11&12 OCTOBER
FERMA Talks 2021 - From Risk to Resilience
With over 1,000 registrations, the FERMA Talks attracted 619 participants from 40 countries over 2 days of exciting debates which also included the perspectives of different European Institutions speakers, including European Commission Vice-President Maroš Šefčovič, European Parliament Vice-President Heidi Hautala and Members of the European Parliament Stéphanie Yon-Courtin and Alfred Sant. We also welcomed esteemed CEOs from the insurance industry crossing swords with risk managers and high-level speakers from different horizons.
If you have missed a session or would like to enjoy it again, have a look at the replays from Monday and Tuesday. And do not forget to check out the pictures from the FERMA Talks.
2- MASTERCLASS ON CYBER RISK: 17 NOVEMBER
Cyber Risk Masterclass - Big, obvious and coming straight at you
Is cyber risk a grey rhino? And could the pandemic be a black swan? - F-Secure's Erka Koivunen will approach cyber risk with this familiar effect to set the scene.
The FERMA Masterclass further features perspectives from finance, management consulting and the European Commission.
Resilience from a banking point of view focuses on a digitized banking portfolio with the opportunities for customers and challenges during the pandemic. Arne Damvin from DNB ASA will present an example from Norway on how to secure business continuity.
Deloitte's Rob Wainwright will be speaking about the digital transformation and how it makes cyber risk more relavant at board level of organisations. Get some tips on how to deal with top management on cyber risk questions and why they should make it a priority.
For the EU perspective, Jakub Boratynski from the European Commission will present the EU's cybersecurity strategy for the digital decade and explain how it aims to improve the current situation. Find out about its tools and actions and the why behind the strategy!
3- WHAT'S NEW IN OUR ADVOCACY WORK?
European Commission’s review on Solvency II falls short of FERMA’s expectations on proportionality
On 22 September 2021, the Commission presented its ‘review package’ of Solvency II rules aiming to “ensure that insurers and reinsurers in the EU keep investing, and support the political priorities of the EU”.
Since Solvency II has come into force, FERMA has advocated for more proportionality in the application of the rules. Both EIOPA and the European Commission have acknowledged FERMA’s messages on this and set out to improve the proportionality of Solvency II in the 2020 review, which has now been concluded with these proposals.
Unfortunately, FERMA’s assessment of the tweaks made to proportionality are not encouraging. FERMA’s Captives Committee has begun drafting a position paper and reaching out to the national national representations in Brussels since the Commission’s proposals are now being discussed at the level of the council of the EU (i.e. among Member States).
The position paper will be finalised in the coming weeks and shared among Members. Members are also encouraged to contact the FERMA secretariat if they have any input to provide to the secretariat on the Commission’s proposals.
4- EUROPEAN RISK MANAGEMENT AWARDS 2021
Join us next Wednesday 15 September from 11:30-12:30 CET
The European Risk Management Awards Ceremony will be held virtually on 14 December.
All winners will be revealed and you will have the opportunity to vote for the best candidate nominated in the “Risk Resilience Initiative of the Year” between our candidates: Ahmet Kirgic from Turkcell, Cristina Martinez from Sacyr and Giuseppe Sinatra from Universita Luigi Bocconi.
For more information visit our website.
5- UPCOMING EVENTS
11.11.2021 AGERS Event
Join AGERS at their #32CongresoAGERS 'Progress and Risk Management'! This year there will be simultaneous translations into Spanish and English.
30.11.2021 4PM Virtual Round Table
The next Virtual Round Table's objective will be to share feedback on our network's latest events and to share among us the key milestones for the 2022 agenda.
16.12.2021 Presidents Call
The next Presidents Call will be held on 16 December from 10-11AM CET. Do not hesitate to contact us if you have not received the codes to join this online meeting.
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