Eberhard Faller wins European Risk Manager of the Year 2017

Eberhard Faller, senior vice-president of central insurances at BASF, was named European Risk Manager of the Year at a gala dinner in London last night. He took the leading prize on an evening when winners of the other Excellence in Risk Management categories were announced, along with those from the Excellence in Customer Services and Individual Achievement shortlists.

Mr Faller, who is a member of German risk management association GVNW, won his award at the event jointly held by Ferma and Commercial Risk Europe at The Gibson Hall. He received his prize from Chris Fischer Hirs, CEO of category and awards’ headline sponsor Allianz Global Corporate & Specialty (AGCS), in front of more than 300 colleagues from the world of risk management and transfer.

All award winners were chosen by a judging panel of leading risk managers from within Ferma and its national associations. Mr Faller won European Risk Manager of the year from a shortlist of finalists that included Gökçe Çıtak, risk and insurance coordinator at Socar and member of Turkish risk management association Erma; and Martti Ojanen, group head of risk at Loomis and member of Swedish risk management association Swerma.

The judges said Mr Faller developed a completely new and innovative insurance strategy for his firm, which gained the full support and backing of its executive board. It included the development and implementation of a new global insurance programme that led to standardised terms and conditions for all subsidiaries and an enterprise risk management (ERM) approach.

In addition, he developed a risk retention programme within a captive insurer that enabled BASF to retain improved aggregate claims performance. The judges felt that Mr Faller demonstrated excellent professionalism in identifying and implementing the insurance strategy that, in the opinion of one judge, should become the benchmark within the risk management community.