The Federation of European Risk Management Associations (FERMA) tomorrow (17 April) launches its 2012 FERMA Benchmarking Survey, the most extensive research on risk management and risk managers in Europe and their views of the insurance market.

Cristina Martinez

This is the sixth FERMA Benchmarking Survey. It has taken place in cooperation with AXA Corporate Solutions and Ernst & Young in alternating years since 2000. In 2012, the partners’ aim is to surpass the record 782 responses in 2010 so that the results are ever more representative of the views of European risk professionals. Each of the 22 FERMA members has a survey coordinator to develop participation from their national association.

The survey has three principal objectives:

1. To find out the status and level of influence of risk management in businesses today, and get a better understanding of what stakeholders expect of risk management in the current financial and economic environment.
2. To examine risk managers’ views of the insurance market and expectations of their insurers.
3. To assess the added value of enterprise risk management (ERM) and new regulations for risk and corporate governance, especially the 8th European Company Law Directive.

Cristina Martinez, FERMA board member with responsibility for the survey commented: “The FERMA Benchmarking Survey is the most significant study of risk management in Europe today. It is the only one organised by risk managers and the only one that focuses on risk management day to day.

“We have put ourselves in the footsteps of the risk management professional and asked how we can provide a practical tool which helps them to take decisions and gives true comparisons so risk managers can see how they differ or how they are similar to others in their country or sector of activity.”

This year the survey has been redesigned to make it quicker to answer and even more effective to use with fewer, more concisely worded questions. The online questionnaire will be available in five languages: English, French, Italian, Polish and Spanish. Toluna, an independent survey organisation, will again conduct the research and analyse the responses. The results will be announced at the FERMA Seminar in Versailles, France on 22 and 23 October 2012.

FERMA has chosen as the title this year: Spotlight on Risk Management in Your Company: Show the Value! As before, FERMA, AXA Corporate Solutions and Ernst & Young are encouraging all professionals with an interest in the management of risk within their organisation to reply. This means not just FERMA members, but their bosses and colleagues in functions like internal audit and treasury are invited to take part.

“The value of the survey largely depends on the numbers who respond. All risk managers and managers with an interest in risk should be part of this exciting project,” says Cristina Martinez.

Any risk professional who is not a member of FERMA, but would like to complete the survey should send their name, business title, company, country and email address to Silke Huber at FERMA (silke.huber@ferma.eu) to receive a personal link to the questions.