Managing operational risk is about good business practice
However much attention is devoted to loss data, modelling, KRIs, risk appetite and other operational risk issues, most of what an insurer needs to do in this area should already be part of the way it runs its business. This theme ran through the second part of the recent InsuranceERM roundtable in collaboration with Thomson Reuters Accelus
Operational risk: is quantification or control more critical?
Assessing likely losses from operational risk is an improving area but still subject to many imponderables. So building a strong control framework and the right culture to identify potential problems is equally important for re/insurers, concluded participants in a recent InsuranceERM roundtable in collaboration with Thomson Reuters Accelus
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