Regulation, quantification and cyber risk at Zurich
Zurich's chief risk officer for general insurance, Steve Wilson, talks about why quantifying op risk is so important
Operational risk for insurance companies has been kept in the headlines by continuing delays in the Solvency II legislative process – but the uncertainty and cost involved are regarded as a price worth paying by some insurers, such as the Swiss general insurance group Zurich.
Ultimately, the benefits of the new risk-based capital levy for Zurich’s general insurance business will outweigh the
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