Insurance of limited value for op risk mitigation

Could premiums be better spent on improving controls, delegates ask

Delegates at OpRisk Asia 2014

Limited capacity and uncertain coverage have led delegates and speakers at the OpRisk Asia conference in Singapore today to question the value of insurance as an operational risk mitigation tool.

"There are just not enough limits available," commented Romy Bowers, managing director of US operational risk at Bank of Montreal. "Does it make sense for banks to insure... or is the money better spent on internal controls?" Other delegates argued that, while insurance might make sense for smaller

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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