Thursday, 11 February 2016

Willis Towers Watson Launches LEAP!!!

Go on, leap!!!

No, don't get upset. It's just the Thursday afternoon PR email, back by popular demand.

Responding to new regulatory requirements for senior executives, Willis Towers Watson (NASDAQ: WLTW) the leading global advisory, broking and solutions company, has launched a new legal expenses solution to help protect executives from personal liability.

Cool! That's LEAP.

The Senior Managers and Certification Regime will come into force for UK banks and building societies on March 7, 2016. As a result all senior managers will acquire a range of additional personal duties and responsibilities including an overall "duty of responsibility" and therefore a greater personal risk of liability. In October 2015, the UK Government also announced its intention to extend the regime to all regulated entities.

The government again!

Francis Kean, Executive Director in Willis Towers Watson's financial and executive risks practice, said: "Conflicts of interest may not arise often but when they do it can be a serious matter. The question as to whether, when and on what terms companies will pay for board members to access separate legal advice is often shrouded in uncertainty. LEAP provides senior managers with the reassurance that this resource will always be available to them. What differentiates LEAP from traditional Directors &Officers (D&O) insurance is that it is triggered not by a claim or investigation but by the subjective assessment of the senior manager concerned of the need for separate advice."

Well, well ... / I don't have much to add, really. I'm sure some of you will find it useful, considering the lives you lead. I'm not judging anyone. I just think maybe you could ... I don't know, find something else to do. What do you think? 'Leave it, boss. They're happy.' Oh, you reckon? You never heard of unconscious despair? 'What?!' Kierkegaard, Voice. Read some fucking books! [I think my concept of it is a bit different though. It doesn't matter. Just forget about it.]

Ah, that's it. Laters.