FERMA was established in 1974 and brings together 22 national risk management associations in 21 European countries. FERMA has 4500 individual members representing a wide range of business sectors from major industrial and commercial companies to financial institutions and local government bodies. These members play a crucial role for their organisations with respect to the management and treatment of complex risks and insurance issues. FERMA co-ordinates the best practice guidelines and approach to risk management throughout Europe, addresses issues that are exclusively related to the European activities, is in liaison with other world-wide risk management associations, organises bi-annual FORUM and seminars in October for professional development of members.