A call to action for Op Risk insurers

Insurance companies must not waste time now the Basel II regulators have shown an amber light to operational risk insurance, say Roland Avery and Daniel Butler.

The world’s insurance industry has only three months in which to show global banking regulators in detail how operational risk insurance can play a role in reducing the op risk capital charges proposed under the Basel II capital accord.

The regulators, previously wary of the idea, told insurers in July that they might recognise a role for insurance for banks using advanced approaches to calculating the amount of capital they will need to set aside under Basel II to guard against the risk of

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