Package 2 Board Terms of Reference

Audit Committee
This Terms of Reference is written to reflect the Prudential Regulation Authority requirements and the UK Combined Code expectations of what an Audit Committee should be doing. If you are worried about your current ToR then here is a low cost way to update your approach.

Risk Committee
Risk management is the hottest topic! This Terms of Reference picks up on the increased regulatory emphasis placed on this “red alert” subject by the Solvency II Directive and the Prudential Regulatory Authority. Ensure you have a compliant approach by purchasing this low cost solution.

Remuneration Committee
Avoiding conflicts of interest is a given a high profile in the forthcoming Insurance Distribution Directive, as is avoiding incentives or inducements which may encourage poor conduct. Do your Terms of Reference pick up on this – if not here is the way forward, try our IDD compliant ToR.

Nominations Committee
The quality of your Board is everything! Ensure your Nomination Committee Terms of reference reflect best practice in how you recruit and assess your leadership team. Remember the Senior Manager Regime holds individuals personally accountable – selecting the wrong people is now more than ever a risk not worth taking.

Investment Committee
Safeguarding the Firm’s assets and delivering returns which meet the policyholder expectations is a tricky business! The Solvency III Directive recognised this when it brought in the Prudent Person Principle. Do your Investment Committee Terms of Reference reflect the latest regulatory expectations. Here is a low cost way to find out and make sure you are doing the right things!


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