Munich Re: Using insurance to transfer op risk
Better together
The recently published paper by the Basel Committee on Banking Supervision, Recognising the risk-mitigating impact of insurance in operational risk modelling, has further brought into sharp focus the need for the insurance and banking industries to work closely together if they are to achieve an innovative and imaginative solution to traditional risk transfer that also provides capital relief under the Basel II Accord.
Munich Re has been developing an insurance product for banks that meets the
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