Willis to Work with the Non-Executive Directors Association on Mitigating Liability Exposure
London, UK, December 16, 2008 – Willis Limited, the UK arm of Willis Group Holdings (NYSE: WSH), the global insurance broker, will work with the UK-based Non-Executive Directors Association (NEDA) to develop products and services aimed at mitigating liability exposure for its members.
NEDA was established in 2007 to represent non-executive directors and ensure they are properly trained and developed, providing advisory, networking, mentoring and recruitment services to its members. Willis is one of three corporate supporters of NEDA, alongside the law firm Baker & McKenzie and Smith & Williamson, the accountancy and financial services group.
With new corporate governance codes and increased regulatory scrutiny, the role of non-executive directors has become more challenging and their potential liabilities have become more serious. Willis is partnering with NEDA to help interested members review their exposure to liabilities and to develop products and services to meet the enhanced needs of NEDA members. NEDA also provides the necessary training for prospective board members to fully understand the legal environment in which they are operating.
Paul Chetwynd-Talbot, Director, and Clive Thompson, Leadership Partner, of Corporate Risk Solutions for Willis UK & Ireland, will act as liaison partners with NEDA.
Chetwynd-Talbot commented: "In a world of greater corporate governance and shareholder scrutiny, it is crucial that non-executive directors are well-versed in how Boards should operate. NEDA facilitates this by providing a vital forum and training for non-executive directors. We look forward to working with the organisation and its members to share best practices and ideas and, importantly, to develop products to protect non-executives from personal financial loss."
Graham Durgan, Chairman of NEDA, said: "With Willis on board as our sole insurance adviser, we are confident that the broker’s wealth of expertise and market leverage will be of enormous benefit to our members."
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 20,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.
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