Insurers plan operational risk proposals for early November

LONDON -- Leading insurance firms planned to have ready by early November their proposals for using operational risk insurance within the terms of the Basle II banking accord, insurance industry sources said as Operational Risk went to press.

The firms, grouped together in umbrella organisations such as the Basle Accord Insurance Working Group and the Property & Casualty Insurance Industry Working Group, believe they can allay global banking regulators’ fears that op risk insurance is not really

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