Willis México, in its on-going collaboration with the Northeastern Association of Risk Managers AARNAC), hosted a breakfast por its members and guests last March 4 which was attended by Mr. Enrico Nanni, Executive Director of Global Markets International, Mr. Héctor Martínez, Division Director for Latin America, both with Willis Limited, as well as Rafael Fernández, General Director of Willis Mexico Reinsurance, Mauricio Rodríguez, Regional Director of Willis Agente, and Ignacio Rosete, Regional Manager of Willis Mexico Reinsurance. During this breakfast, attendees were addressed on the topic of the exposure to which company directors and officials are subject in today's world.

The speaker commented on how today's executives and company owners are more and more frequently exposed to lawsuits and demands from their own shareholders, employees, and—more frequently—third parties. This leads to the conclusion that now is the proper time for creating a culture that is more effective in covering not only the company's estate but that of its executives.

In order to determine the proper type of protection (wording) and coverage limits to purchase, it is important to consider various factors such as the country of operation, action stability, offer date, market capitalization, etc., besides taking into account the fact that legal defense costs have increased in recent years.

Therefore, coverage in many cases may be insufficient, which could have repercussions directly on the financial state of the company, or—more seriously—on the personal estate of directors and officials. Based on this, it is wise to have a limit for the legal entity and another for executives. Another matter presented was the choice of an appropriate deductible, so that both the legal entity's and executives' capital is protected.

Willis has a specialized area in this regard, which serves companies in Latin America, which is an advantage over other sectors, as their staff includes individuals with the know-how in these countries, well acquainted with the local reasoning and business styles. Thus, Willis becomes another tool in your management of risk, and helps you set up a logical sequence related to this risk, such as identification, analysis, assessment, modification, minimization, financing and monitoring. All this with one aim—the reduction of costs and, more importantly, peace of mind for your company and executives.

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EXPOSITOR
HECTOR MARTINEZ
DIVISIONAL DIRECTOR - GLOBAL MARKETS INTERNATIONAL
WILLIS LIMITED
One Camomile Street, London EC3A 7LA, United Kindom
Tel: +44(0) 7975-2646
Fax : +44(0) 7975-2727
E-mail: martinezh@willis.com
Web Page: www.willis.com

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