• Executive Summary
  • Part 1: Introduction
  • Trends in Operational Risk Management and Regulatory Capital
  • Operational Risk Transfer
  • Part 2: Current and Emerging Industry Practices
  • Definition and Scope of Operational Risk
  • Loss Event Types
  • Insurable Risks in Property and Casualty Insurance
  • Factors Driving Operational Risk Transfer
  • Operational Risk Transfer Instruments
  • Part 3: Factors in Assessing the Effectiveness of Risk Transfer
  • Protection Buyers’ Perspective
  • Counterparty Credit Risk
  • Liquidity Risk
  • Legal Risk
  • Basis Risk
  • Duration of Coverage
  • Cancellability
  • Transfer to Affiliated Parties
  • Protection Sellers’ Perspective
  • Operational Risk Assessment
  • Correlation of Risks
  • Effectiveness of Risk Transfer (Credit Risk)
  • Risk Concentrations
  • Moral Hazard Example
  • Part 4: Supervisory Issues
  • Ability of Protection Buyers’ Management
  • Ability of Protection Sellers’ Management
  • Capital Arbitrage
  • Risk Concentrations
  • Intra-Group Risk Transfer
  • Reinsurance
  • Transparency
  • Part 5: Conclusion