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 international bank supervisors in early October.

The way the insurance industry handles the claims, as well as its financial capacity to do so, will influence the attitude of bank regulators toward op risk insurance, the sources said.

The attacks devastated New York's financial district, leaving some financial firms with hundreds of staff dead, and destroying or damaging the buildings of several banks whose businesses were severely disrupted - an operational loss event of previously unimaginable proportions. The attacks fall within the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here