UK – The UK insurance industry trade body the Association of British Insurers is to launch a corporate governance web site in March. The launch will be marked by a conference on corporate governance.

The ABI says its new web-based Institutional Voting Information Service is to go live on March 5. The service screens UK company annual reports and meeting notices for compliance with corporate governance best practice. “The service has developed from the low key, proactive but non-confrontational approach to corporate governance adopted by the ABI,” the ABI says on its website

The ABI sees several benefits of the new system. First, the ABI does the “essential groundwork” by reviewing reports and notices. Then it identifies matters of concern, provides relevant information in a “focused way and in a standardised user-friendly format”. It also contributes to the “audit trail on voting policy”.

Ivis is to cover all companies in the UK FTSE All Share Index. “Other companies are monitored on an ad hoc basis when requested by our members,” it says. Results are published in a colour-coded system either on the site - http://www.ivis.co.uk/ - or in hard copy.

The conference to mark the launch of the new website will include speakers such as Derek Higgs, the author of a recent report on non-executive directors, Ken Rushton, director of the UK listing authority and Craig MacKenzie of Insight Investment.

The ABI says a key task for shareholders in 2003 is to “make governance work better so companies will have structures that protect them, their workforce and shareholders”. The conference will take place in London on March 5.

The ABI also says that with two thirds of FTSE 100 companies have made “either adequate or full disclosure” that their boards have assessed the business and reputational risks arising from they way they manage social, environmental and ethical issues – which is in line with the ABI’s Socially Responsible Investment guidelines.

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