Narim celebrates 25th anniversary with sharp focus on partnership

Netherlands risk and insurance management association Narim was the first Ferma member to take the bold step of hosting its annual conference physically this year, in Rotterdam at the end of September, and the decision was the right one according to those present. The fact that more than 350 people turned up for the 25th anniversary conference amid the ongoing Covid-19 pandemic proved just how much risk and insurance managers in the Netherlands have missed real human contact with each other and their partners in the insurance market. As all European risk and insurance managers are well aware, the sudden shift to virtual working did not help during the most difficult renewals experienced for a very long time. Long-term partnerships with insurers were strained to breaking point in the Netherlands, just as they were in other European markets as the arguably long-overdue market correction came just as the pandemic kicked in and made the in-depth discussions more difficult than ever. Narim members faced the sometimes unexplained withdrawal of limits and spiralling prices in key lines such as D&O and cyber, just as their bosses were demanding greater protection and certainty than ever at a highly uncertain time in which corporate budgets were under intense pressure. Narim president Adri Van der Waart did not hold back when asked about the performance of insurers and, to a lesser extent, brokers after the 1 January 2021 renewals. He and his membership were not happy at all with the insurers and called for a mighty effort during this year to fix what seemed like a broken market. They demanded that the insurers take a more risk-based view, recognise their efforts and help them with their efforts to emerge from the pandemic crisis and achieve greater resilience to help cope with future crises. Narim members are painfully aware that the pandemic has exposed vulnerabilities that come not just as a direct result of the lockdowns and health crises. It has also shown how vulnerable the global supply chain has become and how the rapid shift to a digital economy brings with it potentially huge cyber exposures at a systemic level. This period has also highlighted once again how reliant all businesses are upon key people and how they must carefully look after the physical and mental wellbeing of their staff. These big topics all came into focus during the Narim congress and it was agreed by all those who took part that progress has been made and lessons learned. The theme of the event was about renewing partnerships under the banner of ‘All onboard’ and van der Waart said he definitely sees a more positive environment from this perspective as Narim members head towards the 1 January 2022 renewals. Narim is in great shape, according to van der Waart, and the gathering at the end of September underlined just how important networking is within this industry. “Narim can position itself among insurers, experts and brokers. The risk and insurance managers also find each other in Narim. We are a network organisation. Within that network, we can contact the other side of the table, especially when there was a hard market. Narim has a solid foundation and a robust presence,” he said after the event. Van der Waart, along with other European risk and insurance association leaders such as Julia Graham at Airmic in the UK and Alexander Mahnke at GVNW in Germany, have consistently stressed that this recent tough market has not just been about premium. “The market changed in 2019 and that was abrasive. Then, when we were confronted with Covid-19, it got even more complicated to get things done. Sitting at home and solving problems remotely was more than difficult. I thought it was a pity that insurers were also digging their heels in,” he said. “Of course, that also had to do with the amount of claims they received in response to Covid-19. They saw the cost of claims rise, resulting in a premium increase. But premium is not the only thing. It is about insurability within acceptable conditions. You should discuss that with each other. And unfortunately, I [must have] missed that meeting! Fortunately, Narim has initiated talks between the parties in recent months. My appeal is therefore emphatically: 'All onboard', let's continue to talk to insurers and brokers,” stressed van der Waart, calling for an ongoing effort to rebuild the partnerships that are so vital in this complex market. Van der Waart’s call was clearly echoed and supported by the Narim members at the event. Following his opening address, members were asked to express, in one word, what Narim means to them. Narim’s website reported that the responses from the room were largely in sync – network, connectivity, connection, sharing, bringing together, finding each other, dialogue, expertise, experience, professionalism, exchange. “This is exactly what Narim has represented for 25 years and wants to continue to stand for in the coming years,” concluded the association.

Narim celebrates 25th anniversary with sharp focus on partnership

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Want to read this article?

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