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Facing the op risk future
A furious clash between continental insurers and consultants highlights the growing debate over operational risk capital for insurers Aaron Woolner reports
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The rapid improvement in risk management techniques in recent years has left the insurance and pension industries with a greater awareness of the dangers they face and the tools that are available to defend against these risks. The introduction of market-consistent valuation and the use of hedging instruments, along with improved supervision, have reduced the chance of another Equitable Life-style crisis and moved attention to the less glamorous end of the risk management spectrum - operational
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