Risk managers too focused on model outputs, Lloyd’s risk head says
Risk managers are still too reliant on models and need to consider a wider array of factors, according to Olly Reeves, head of risk management at Lloyd's, the specialist insurance market.
Speaking today at the Federation of Risk Management Associations forum in Maastricht, the Netherlands, Reeves said risk managers need to ask tough questions, rather than rely on models.
"We do a lot of modelling of catastrophe events and financial events, but there is always a danger of relying on a model
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Operational risk
Regulation
FCA proposes using CME’s term SOFR for synthetic US Libor
IBA agrees to use rival’s ARRC-endorsed benchmark to avoid bifurcating the market
Receive this by email