It's all relative
The Operational Risk Consortium recently carried out an analysis of its growing database of operational losses in the insurance business. It found evidence of the need for scaling, which suggests no firm's losses should be viewed in isolation. Mariano Selvaggi presents the results
Last June the Operational Risk Consortium (Oric) held its annual conference looking at operational risk management in the insurance industry. One hotspot of the event was the launch of Oric's latest research, Analysing operational losses in insurance, which is our first systematic attempt to apply advanced scaling techniques to Oric's growing database of operational losses in the insurance
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