Business seminars by Carraghyn October 4th

Carraghyn (Chartered Directors consultancy), of which I and Steve are directors, is presenting three free business seminars in October. If you are interested please follow this link:
They are being held in Douglas and registration details are in the information above.
Best wishes

NEDS IOM Membership

NEDS IOM membership is now at 239 registered members, with 50 profiles uploaded.

Members include experienced NEDs, aspiring NEDs, those seeking NEDs and some who are just plain inquisitive!  NEDS IOM is a virtual body, existing for the benefit of its members, essentially a philanthropic venture, and seeks to encourage members to have a strong commitment to delivering the highest level of duty and care to boards to which they belong.


There is no cost to membership, whether to register as a NED or to be able to search the Register while looking for one.


For details on how to become a member please see How to Join in the menu.


Promoting NEDucation 2011: Event for non-executive directors of UK-listed companies (No charge)

Martin Webster (Pinsent Masons), Fidelity and the Financial Reporting Council will be speaking at the event. Jon Moulton of Better Capital will be giving the keynote speech. The event will take place on 14 October 2011 in London. Informing the Non Executive Director community, this is a seminar hosted by Pinsent Masons and for any of our members who find themselves in London on that day is well worth checking out their information here.  The eagle eyed among you will notice that our own Steve Burrows has managed to recruit his twin as one of the speakers...


NEDS IOM Seminar July 20th with AON - Professional Indemnity - When your best advice and good faith isn't enough!

Herein notice of the next seminar for members on Professional Indemnity cover. Last month we had a full house, not quite standing room only but very nearly so, The subject of D&O Cover clearly had significant resonance for many active and prospective Non-Execs. It is common that non-exec work includes the provision of consultancy and professional advice in addition to directorial duties, so we hope that this month's seminar will be of great relevance to many of you.

  • At the International Business School, 20th July 2011
  • 5:30 pm for 6:00, to finish by 7:30 pm latest
Those of you who attended last month’s hugely successful Directors & Officers Liability seminar will know that the next session will be on Professional Indemnity insurance on 20th July at the International Business School.
Once again Aon have kindly agreed to put forward a thought provoking session which in addition to the basics of cover will address areas such as:-
·         Professional advice – What is your liability?
·         The exclusions - what isn’t covered?
·         Is your policy FSC compliant?
·         Negligence v Civil liability
·         Example claims
Aon, the world’s largest insurance broker and one of the longest standing on the Island, will provide an update on how Professional Indemnity cover can protect you and where, under some insurers policies, it might not. It will cover vital points to check and give you an overview of current exposures.

5:30pm - 6pm - Coffee & networking
6pm - Presentation, questions & discussion
Escape by 7:30
A CPD Certificate will be available from, if you want one, please indicate your desire by ticking the box on the sign-in sheet at the event.
Please reserve your place by letting us know of your intention to attend, email This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. . We look forward to seeing you there next Wednesday. and Aon D&O Seminar

D&O (Directors and Officers) Insurance cover is always an important consideration for non-executive directors; we carry the same legal risk as executive directors, but for lower remuneration and with fewer opportunities for oversight, so some form of protective cover against the unlimited liabilities which can face directors when things go wrong is often seen as a 'must have' in enabling non-execs to take on the risks of being directors.
In addition to the unlikely scenario of a genuinely valid claim against the directors, non-execs also face the same risks as executive directors of unfounded or malicious claims which, whilst without merit, need to be defended. The courtroom is an expensive place to be at the best of times, but the complexities of company law and the potential value of unlimited claims raise the stakes, meaning that legal fees in complex corporate cases are amongst the highest around. D&O Cover is typically expected to protect directors from both their potential liabilities (real or imaginary) and the legal costs of defending against those liabilities. 
Monday 20th of June saw around 30 non-execs meeting at the Isle of Man International Business School to hear presentations from AON UK and CHUBB, organised by global insurance broker AON in collaboration with, to explain the ins and outs, expectations and 'gotchas' of D&O cover. The sheer numbers attending what might be seen to be a rather dry topic simply serve to reinforce the particular importance of D&O cover to NEDs, and the presentations were received with great interest, interspersed with many questions and debate from the audience. 
Aon has kindly provided a copy of the presentation slides for publication, which can be found here Directors & Officers Insurance Presentation would like to thank AON, and their experts who travelled from the UK to present to us, for a very informative and worthwhile seminar.
A second, follow up seminar is scheduled for July 20th covering professional indemnity and promises to be as interesting and informative as the last one.

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