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 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
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