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In desperate need of D&O.
(From Insurance Day)
THERE is simply no way to ignore the issues that currently surround the UK liability market.
The demise of Bradstock yesterday, citing its failure to find affordable indemnity cover, only goes to highlight that the time is fast approaching when something is going to have to give in the UK's liability sector.
Westminster is at odds with the industry over the price and availability of cover. Ministers have repeatedly stated that the government will not seek to become involved, because they see it as a cyclical problem rather than one requiring a restructuring of the industry. The market believes they are wrong, and the call for action has been getting louder by the week. Airmic, the risk managers' association, has formed a task force to look at directors' and officers' (D&O) cover; and yesterday saw the announcement from a group of City institutions that they have thrashed out guidelines on D&O in an effort to get UK businesses better educated on the issue ...
- The Higgs Report.(a discussion of Derek Higgs' 'Review of the role and...
- News wire article from: Mondaq Business Briefing February 6, 2003 700+ words
The Higgs Report on Non-Executive Directors and the Smith Report on Audit Committees...committees, will have a major impact on all UK listed companies. The Higgs Report The Higgs Report can be obtained from www.dti.gov.uk/cld/non_exec...
- Reed Accountancy Personnel: UK finance directors fear Higgs report may impede...
- News wire article from: Europe Intelligence Wire January 30, 2003 700+ words
...2003 Recent recommendations made by the Higgs report into corporate governance, may obstruct...Accountancy Age, published today. The Higgs report has recommended half of the members...comments urged caution in applying the Higgs report. One anonymous director said: "There...
- Northern focus: Corporate Governance; Chartered Accountants in Northern Ireland...
- Magazine article from: Accountancy Ireland Canniffe, Mary April 1, 2003 700+ words
...Ireland Mr Douglas Nisbet agrees that the Higgs Report recommendations were "very sensible...he explained. Welcoming the recent Higgs Report, Mr Nisbet comments that many of the...challenge and supervise management, the Higgs report has made valuable recommendations...
- Higgs report: the case for and against.
- News wire article from: Europe Intelligence Wire February 5, 2003 700+ words
...had a measurable effect. For example, according to the Higgs report, the overwhelming majority of the 1,900-odd PLC boards...between non-executive and executive directors. So are the Higgs report recommendations necessary, and will they work? What do...
- Old-school boardrooms need the feminine touch: the Higgs report found no...
- Magazine article from: Marketing Week Pitcher, George January 23, 2003 700+ words
...happens, he is right. Nor necessarily in his view on the Higgs report, but in his doubtless unwitting observation that shareholder...rather than the one we want in the future. Meanwhile, the Higgs report concludes that there is no "magic circle" of non-execs...
- Neds under the bed: on the face of it, very little seems to have changed since...
- Magazine article from: Financial Management (UK) Berens, Camilla July 1, 2004 700+ words
...Research by Mori in the run-up to the publication of the Higgs report in 2002 found that almost 60 per cent of the Neds recruited...that the shift in attitude began several years before the Higgs report. The change is a result of a "general maturing of corporate...
- Higgs Report - A More Important Role For Non-Executive Directors.
- News wire article from: Mondaq Business Briefing February 17, 2003 700+ words
This article was preprared by lawyers from Freshfields Bruckhaus Deringer Executive summary The Higgs Report on the role and effectiveness of non-executive directors will increase the accountability of the boards of UK listed companies...
- IRS issues Higgs Report warning.(Investor Relations Society)(Brief Article)
- Newspaper article from: PR Week (UK) January 24, 2003 700+ words
The Investor Relations Society this week warned that the implementation of Higgs Report recommendations could lead to some non-executive directors shirking responsibilities to shareholders. On Monday Derek Higgs...
- Combined code wins plaudits: key proposals of the Higgs report have been...
- Magazine article from: Financial Management (UK) Hayward, Cathy September 1, 2003 700+ words
...clearer understanding of the workings of the boardroom. The Financial Reporting Council made substantial changes to the Higgs report during the six-month review. Under the new Combined Code, a chief executive is able to become chairman of the same firm...
- An Overview Of The Higgs Report On The Role And Effectiveness Of Non-Executive...
- News wire article from: Mondaq Business Briefing March 14, 2003 700+ words
INTRODUCTION In April 2002 the Government commissioned Derek Higgs to undertake an independent review of the role and effectiveness of nonexecutive directors. It was published on Monday 20 January 2003 at the same time as the Financial Reporting Council's report on Developing the Guidance on Audit