“The COVID-19 pandemic has shown that a hypothetical systemic risk, is never far from becoming a reality and that we must do everything we can to prepare and mitigate against the worst impacts of the constantly changing and challenging risk landscape,” commented John Neal, CEO of Lloyd’s.

Willis to pay $2.1m cash retention agreements for 4 executives till Aon merger

Feb 9, 2021

Under the retention agreements, Burwell, Wickes, Hess and Gunn are each eligible to earn a cash amount of up to $750,000, $487,500, $487,500 and $420,000, respectively, based on the number of whole and partial months each are employed with WTW from Jan. 1, 2021 through the date of the closing of the merger, said the filing.

Scientists warn over misuse of Climate Models in financial markets

Feb 9, 2021

“In the same way that a Formula One Grand Prix car is not what you would use to pop to the supermarket, climate models were never developed to provide finessed information for financial risk,” said Andy Pitman, a climate scientist at the University of New South Wales and a co-author of the paper.

UK company directors face personal liability for financial statements

Feb 9, 2021

Directors would have to vouch for the accuracy of financial statements in a version of the Sarbanes-Oxley regime introduced in the United States to crack down on accounting fraud after energy company Enron collapsed, the sources said.

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