22 July 2011

FERMA responds to Green Paper on insurance governance

The Federation of European Risk Management Associations (FERMA) that gathers national risk management associations from 17 countries including 14 EU Member States has welcomed the European Commission's goal to ensure corporate governance rules are fit for purpose.

The Federation of European Risk Management Associations (FERMA) welcomes the opportunity to comment on the European Commission’s staff working document, “Green Paper on the EU corporate governance framework”.

FERMA members manage complex risks and insurance matters on a daily basis in their companies and FERMA welcomes the Commission's goal to ensure that their corporate governance rules and practices are fit for purpose.

As a leading forum for risk management professionals, this is a matter close to members' hearts and therefore FERMA is grateful for the opportunity to comment on the green paper. FERMA’s contribution includes some opening remarks in support of better corporate governance in the EU, specific comments on the risk management aspects of the green paper, followed by other corporate governance issues dealing with risk management.

FERMA wished to provide further advice on any risk management and insurance issue to contribute to building a European market where enterprises can compete fairly, and develop, for their own benefit and the European economy, whilst respecting their social responsibilities.

© FERMA