Insurance Non-Executive Directors - join iNED
My name is Terry Hayday and I chair the Insurance Non-executive Director, or iNED, Committee at the Worshipful Company of Insurers … the City-based livery company specifically for those who work in insurance.
Today’s regulators in the UK financial services sector place considerable demands and expectations upon Non-Executive Directors or NEDs.
Codes of corporate governance, regulations, rule-books and best practice manuals abound, but few exist in one place to offer Non-Executive Directors information that will readily help them to fulfil their onerous duties.
We have addressed this issue by offering a single, web-based, comprehensive Information Bank for existing or potential NEDs across the UK insurance industry.
Simply go to the website of the Worshipful Company of Insurers at www.wci.org.uk and follow the links through the iNED section on the front page.
There you will find a Question and Answer format that draws attention to the key requirements of a Non-Executive Director, beginning with an understanding of the role.
We then deal with a series of important issues that are relevant “before joining a Board”; we address responsibilities that will be encountered “during a person’s time as a Non-Executive Director” and we touch on some of the problems that might arise “after the NED has been appointed”.
Our Information Bank for NEDs is in the public domain; it is free and does not require any passwords or special log-on protocols.
We formed our Information Bank to complement our iNED Forums that we have run for the past two years. Over that period, we have featured presenters from the PRA and FCA; from the Cass Business School and from a range of specialists who have addressed topics specifically designed to give practical help to insurance Non-Executive Directors.
Our Forums have also been accredited by the Chartered Insurance Institute for CPD purposes.
Details of this year’s remaining iNED Forums can be found on our website. As soon as the 2015 programme has been completed I will be speaking to you again about them on youTalkinsurance.
In the meantime, track down the WCI website, click on it and try it for yourself. Thank you.
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