Risk financing might solve doubts over op risk insurance

Thomas Leddy, executive director of Fox-Pitt Kelton, the investment and corporate advisory arm of Swiss insurance group Swiss Re, said the combination could ensure that funds were immediately available to a stricken bank. There would be no delay in paying out while insurers established whether the cause of the crisis was an insured event.

Leddy was speaking at the London OpRisk 2002 conference organised by Operational Risk’s sister publication, Risk magazine.

Global banking regulators are

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