Insurance of limited value for op risk mitigation
Delegates at OpRisk Asia today expressed doubt that insurance is a useful tool for op risk managers given high premiums and low rates of recovery
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
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