Whether we are supporting a corporate or individual executive, we like to say we are ‘proactively different brokers’. It’s the theme running through this website, and also this little clip which we released on our LinkedIn page today.
The Institut Luxembourgeois des Administrateurs (ILA) ran a training event on 3rd May: “So you want to be a Director – practical aspects to organise yourself as a non-executive director.” This inspired us to create a list of some items to consider when undertaking ID/NED roles:
* Don’t become so busy reviewing the risks faced at the organisational level, that you overlook your personal exposures.
* Establish that an entity Directors & Officers policy exists for each role you undertake, each year.
* Don’t overlook ongoing insurance requirements such as ongoing Duty of Disclosure and notification of any potential claims.
* Informing the entity insurer of key information isn’t just an annual event – it’s continual.
*Consider an additional policy to protect your personal finances and reputation.
View our short film via our LinkedIn page – a long standing client has listed the three things you need to protect yourself as an independent director. We couldn’t have written it better ourselves!