Market mixed over Sigor’s insurance paper

BASEL – The consultation paper issued by the Basel Committee on Banking Supervision’s standards implementation sub-group for operational risk (Sigor), Recognising the risk-mitigating impact of insurance in operational risk modelling, has received widely varying responses despite its restricted consultation group of 60 firms. One camp sees the paper as a largely positive step, while the other says it is too restrictive and will deter firms from applying for a capital reduction. Sig