How do FERMA members feel about loss adjusters? Would they like to see some form of registration or regulation? This issue, which has been discussed in FERMA a number of times in the past, has again become topical as part of European Commission discussions on the prevention and insurance of natural catastrophes.
FERMA plans to circulate association presidents to ask their views, ahead of a possible meeting with the European Federation of Loss Adjusting Experts (FUEDI). Executive Manager Florence Bindelle, who attended a Commission seminar on natural catastrophes on 18 October, reported that the Commission is to carry out an in-depth examination of insurance schemes within the EU for natural catastrophes.
The next step will be the release of a survey by the EC Joint Research Centre as the basis for discussion of future initiatives to promote an appropriate market for natural catastrophe insurance products and improve the efficiency of existing market. A draft version should be available for stakeholder comments by the end of November, with a final version in December. A green paper is expected to follow to consider whether there is a need to add to current European regulation or create new measures for managing catastrophe risks.
EU Commissioner for internal market and services Michel Barnier, who spoke at the conference, included among his angles for action the question of some formal European registration of loss adjusters. FERMA understands that FUEDI would like to see recognition of the profession of loss adjuster but not regulation, and will consider the possibility of future discussions with FUEDI after getting the presidents’ views.
More information and the conference presentations will be available at:
http://ec.europa.eu/internal_market/insurance/index_en.htm