Airmic (the Association of Insurance and Risk Managers in Industry and Commerce; formerly the Association of Insurance and Risk Managers) is a UK-based association and representative body. Established in 1963, it exists to promote the interests of corporate insurance buyers and those involved in
Enterprise Risk Management Enterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typic ...
, and to encourage best practice. It is run as a not-for-profit company limited by guarantee, governed by a Board of Directors elected from members with support from a full-time London-based secretariat.
Airmic’s ten-year strategy (agreed, 2011) highlights five key priorities: to support members in their
professional development
Professional development is learning to earn or maintain professional credentials such as academic degrees to formal coursework, attending conferences, and informal learning
Informal learning is characterized "by a low degree of planning and ...
and execution of their roles; to ensure that the value of risk management and insurance is understood at board level; to promote and influence the further development of recognised risk management qualifications; to drive research and market efficiency in business insurance; and to provide
thought leadership
A thought leader has been described as an individual or firm recognized as an authority in a specific field and also as business jargon.
Meanings Go-to expert
From the perspective of a thought leader as the 'go-to expert', being a thought leader ...
in the area of risk management.
Membership
Membership can either be on an individual or corporate basis; there are around 1300 members and nearly 400 different companies represented. They come mainly from multi-national businesses, including around three quarters of FTSE 100 companies. Medium-sized and smaller enterprises, charities and public-sector organisations such as universities and local authorities are also represented. It is supported by a number of companies that supply services to the association’s members and, although not eligible to join, have Partner or Associate Partner status.
Activities
Airmic’s member-facing activities centre to a large degree on the provision of information and networking opportunities, including an annual conference, lectures, seminars, monthly news email and a series of around 50 Airmic Academy workshops a year. It also represents the association’s views to government, regulators, other market bodies and the EU. In recent years it has produced a number of initiatives to assist insurance buyers, especially in relation to claims payment, contract clauses and the placement of global programmes.
Publications
Airmic produces internally a wide range of technical publications designed to support members in their work. In addition, it has commissioned and published pieces of research aimed at a wider audience. These include:
A cost-benefit analysis of Enterprise Risk Management(conducted by Det Norske Veritas)
Roads to Ruin– why companies sometimes fail (carried out by Cass Business School)
Roads to Resilience Building dynamic approaches to risk to achieve future success. Published by Airmic (2014).
See also
*
American Risk and Insurance Association
The American Risk and Insurance Association (ARIA) is a professional organization whose focus is the study and promotion of knowledge of risk management and insurance. It was formed in 1932 and publishes two journals: ''Journal of Risk and Insur ...
*Asia Risk Management Institute (ARiMI)
*
Global Association of Risk Professionals
Global Association of Risk Professionals (GARP) is a not-for-profit organization and a membership association for risk managers. Its services include setting standards, training, education, industry networking, and promoting risk management practi ...
*
Institute of Risk Management
Following is a partial list of professional certifications in financial services, with an overview of the educational and continuing requirements for each;
see and :Professional certification in finance for all articles.
As the field of finan ...
*
Professional Risk Managers' International Association
The Professional Risk Managers' International Association (PRMIA) is a non-profit, member-driven professional organization that focuses on the development and education of the risk management profession. Its membership provides a network of risk ...
*
Risk and Insurance Management Society
The Risk and Insurance Management Society, Inc. (RIMS) is a professional association dedicated to advancing the practice of risk management. It was founded in 1950, and is headquartered in Manhattan. It publishes the industry-focused ''Risk Man ...
References
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External links
Official WebsiteAirmic Technical Resource
Insurance in the United Kingdom
Risk management
Risk_management_in_business