Professional non-executive directors face great responsibilities, risks, and exposures than ever before. To meet these increased challenges, they need better information, advice, and protection to understand their risks, mitigate them effectively, and make informed decisions to protect themselves and their personal assets, income, and reputation.
The Thorndon Director’s Indemnity service is designed to deliver effective risk management to directors of funds and enable them to develop their career with confidence and security.
The Director’s Indemnity service comprises the following elements:
- Initial review of directorships and associated risk factors, and any mitigation and/or insurance arrangements in place for your protection
- Annual review of these arrangements as the portfolio and environment evolves
The purpose of these reviews is to highlight any changes and ensure awareness of associated risks whilst ensuring that mitigation and financing arrangements are fit for purpose and optimal. These are presented in the form of a report with an associated meeting to address any questions and discuss any measures identified in the report as necessary at the time.
The reviews will include but not be limited to:
- The analysis of the risk profile of the director and appointments in their portfolio
- The analysis of all indemnification arrangements in place
- The analysis of all insurance arrangements in place
Ongoing ad hoc personal support focused on addressing risk issues as they arise. Access to these services is included within the core fee though they will be separately charged as and when required. They include:
- Risk review of new appointments
- Advice on legacy issues as they arise
- Crisis support and advice in the event of any litigation of regulatory enforcement event. The first day of such support is covered within the core fee.
- Advice on the design and placement of D&O insurance, including broker selection process
- General advice on other relevant issues that may arise from time to time