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FSA hands Aon record £5 million fine for financial crime failings
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Future options
Operational risk derivatives have been touted for a few years now, but interest in them moves in waves. The current tide is high, however. Duncan Wood tests the water
Aon forms risk consulting group
Insurance group Aon has formed Aon Global Risk Consulting, a Chicago-based risk consulting, captive management and risk engineering group, which will be part of Aon Global.
Isda welcomes outcome of SG appeal
The International Swaps and Derivatives Association has publicly welcomed a decision by the US Second Circuit Court of Appeals, overturning a ruling that forced Société Générale to pay out on a contentious credit default swap (CDS) contract.
UK pension deficits cut by 61%
The pension deficits of the UK’s 200 largest defined benefit schemes have declined by 61% in the first four months of the year because of increasing returns from the equity and bond markets, according to research from Aon Consulting. Deficits now stand…
Market blames government for UK gilt plunge
A dramatic fall in the yield of UK index-linked gilts yesterday has highlighted the risk of a gilt bubble and prompted criticism of the Treasury.
Aon warns of risks of investing in emerging markets
Companies must concentrate on understanding the political and economic risks of investing in the emerging markets, warns Aon, the Chicago-based insurance and risk management consulting firm.
Op Risk database reveals fraud costs
Fraud is a far greater operational risk than banks have been prepared to admit, according to data compiled by Aon, the insurance company.
Basel paper outlines way forward for op risk insurers
The Basel Committee on Banking Supervision released a paper in August outlining what the insurance industry must do to design op risk transfer products, including insurance and capital markets products.
Terrorism insurance - Modelling the unthinkable
In November, the US government passed a law requiring all insurers to underwrite terrorism risk, forcing them to find a way to price this exposure. Could terrorism risk models be the answer?
Swiss Re lands $75 million committed capital deal with US multi-line insurer
Swiss Re and Horace Mann Educators, an auto, homeowner and life insurance provider to US teachers with $1 billion in revenues, have struck a three-year $75 million committed-capital deal. By the terms of the deal, if Horace Mann incurs catastrophic…
Risk financing might solve doubts over op risk insurance
LONDON - Combining risk transfer with risk financing might be one way of resolving regulator doubts about the use of insurance to mitigate operational risk under the proposed Basel II accord.
Basel regulators to study insurers' reaction to US attacks
BASEL - Bank regulators considering allowing op risk insurance a role in the proposed Basel II bank accord will study closely how the insurance industry deals with the massive insurance claims arising from the September 11 attacks in the US. So said…
A call to action for Op Risk insurers
Insurance companies must not waste time now the Basel II regulators have shown an amber light to operational risk insurance, say Roland Avery and Daniel Butler.