Leading insurers argue the case for op risk insurance

FRONT PAGE NEWS

LONDON -- Global banking regulators should allow banks to use insurance to reduce the capital charges proposed for operational risk, says a group of leading insurance companies.

Twelve insurance industry firms based in Europe, the US and Japan say the proposed Basle II banking capital accord should recognise that both existing insurance policies and newly designed ones should be used to mitigate the capital charges. But they acknowledge that developing new products requires a close working re

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