Basel paper outlines way forward for op risk insurers

REGULATORY UPDATE

Basel, Switzerland -- 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.

Although the hurdles the committee is setting for the development of op risk products are considered quite high, industry observers say such stringent benchmarks are necessary because op risk insurance will effectively be behaving as a capital substitute.

In its third co

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