But, if one thinks about operational risk with a fresh mind, one will find that it is in fact very clearly exposure-based. Working with employees exposes a firm to fraud; working with traders exposes ...

The Institute of Risk Management’s (IRM) Internal Model Industry Forum (IMIF) has launched a guidance booklet entitled ‘Operational risk modelling: common practices and future development’. The ...

These files allegedly included claims information, health information, social security numbers, and/or other personal ...

Algorithmics, the leading provider of risk solutions, today announced that it has been awarded a patent for its operational risk capital modeling framework.

The survey of 34 insurers, to be released today, identifies operational risk, ... But industry analysts agree that some insurers need to improve their measurement and modelling of risk.

Indeed, we would argue that cyber-risk is a class of operational risk for all companies, so there is probably efficiency to be gained and savings to be made by exploiting this “convergence”.

A couple of years ago, I was working with a client on a mis-selling scenario, which he proposed calling ‘unexpected payments to customers’. This is a good illustration of the conception among ...