Constructing an operational event database

Michael Haubenstock of US bank Capital One outlines a framework for an event database, formulated with current US regulatory guidance on the subject in mind. The text is an abstract from The Basel Handbook, which has just been published by Risk Books.

The Basel II proposals refer to loss data in several different contexts. In the Sound practices paper, the Committee refers to collecting loss data as a component of both risk identification and monitoring. In the third consultative paper (CP3), loss data is a tool to validate risk estimates, a component of risk reporting, and a key input to any advanced measurement approach (AMA) model. In addition, CP3 sets the standard for seven standard categories of operational event risk. At the time

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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