Risk Analysis - Causal Modelling And Op Risk
PRACTITIONER ANALYSIS
A causal modelling approach based on system dynamics is likely to prove the best way to model op risks in financial institutions, say insurance experts Jerry A. Miccolis and Samir Shah.
Operational risks threaten virtually every financial business, and can wreak as much havoc on insurance companies as on banks.
For example, improper agency sales tactics can destroy a well-regarded insurer’s reputation and brand equity. Managed care class action lawsuits can substantially impair the market value of
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