Modelling operational risk under Solvency II

Fits and starts

Stopwatch

The general impression one gets when talking to insurance firms is that formulating an internal model for operational risk under Solvency II is not a high priority, mainly because it is difficult to do. “We spotted that too,” says Jim Bichard, insurance regulation partner at PricewaterhouseCoopers in London. “We are making a big investment to help companies out with this.”

“Because companies are sprinting pretty fast towards the Solvency II deadline, there is a good chance modelling operational

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