Top five op risk loss events in September 2008


1. Delta Lloyd, the Dutch unit of Aviva, agreed to spend $424 million to compensate policyholders who purchased unit-linked insurance products. In 2006, Dutch market regulator AFM found companies had improperly spent portions of premiums on costs and commissions while failing to provide customers with sufficient product information. Delta Lloyd's settlement with Dutch consumer groups was expected to lead to similar settlements on the part of other insurers.

Loss amount: $424 million

Firm: Delta

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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