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Operational Risk Control with Basel II
book

Operational Risk Control with Basel II

by Dimitris N. Chorafas
November 2003
Intermediate to advanced content levelIntermediate to advanced
400 pages
12h 48m
English
Butterworth-Heinemann
Content preview from Operational Risk Control with Basel II
262 Operational Risk Control
Like any other insurer Munich Re is exposed to operational risk. One case alone, 11
September 2001, cost the company an estimated $1.9 billion. This is said to be the
largest ever insurance loss. The challenge independent rating agencies face is to answer
in a reliable way the query: Has the insurer the assets and solvency to absorb such
shocks? Answers to such questions are usually confidential, based on selected criteria.
12.5 Information is the critical product of rating agencies
As section 12.4 has demonstrated, both qualification and quantification are integral
parts of an analysis for credit rating. The evaluation ...
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Publisher Resources

ISBN: 9780750659093