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Pojištění jako nástroj řízení operačního rizika - případová studie
[The Role of Insurance in Operational Risk Mitigation - A Case Study]

Author

Listed:
  • Milan Rippel
  • Lucie Suchánková
  • Petr Teplý

Abstract

Operational risk management has becoming more important in the financial industry in the recent years mainly due to scandals in UBS in 2011 and Societé Générale in 2007. The reasons for this attention can be attributed to introduction of operational risk into the Basel II regulatory framework and to high losses stemming from operational risk events. Despite the fact that the new Basel III proposal does not give much attention to this risk, operational risk should not be underestimated. In this paper we present a theoretical background for the use of insurance in banks' operational management according to Basel II rules. Moreover, we provide empirical analysis of the role of insurance in operational risk management in an anonymous bank located in Central Europe. We compare the results of our case study with impact studies conducted for Basel II evaluation. Based on our analysis we reject a hypothesis that insurance serves as an effective mitigation tool of operational risk in case of the researched bank.

Suggested Citation

  • Milan Rippel & Lucie Suchánková & Petr Teplý, 2012. "Pojištění jako nástroj řízení operačního rizika - případová studie [The Role of Insurance in Operational Risk Mitigation - A Case Study]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(4), pages 523-535.
    • Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:4:id:860:p:523-535
    DOI: 10.18267/j.polek.860
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    References listed on IDEAS

    as
    1. Milan Rippel & Petr Teplý, 2011. "Operational Risk - Scenario Analysis," Prague Economic Papers, Prague University of Economics and Business, vol. 2011(1), pages 23-39.
    2. Martin Mandel & Vladimír Tomšík, 2011. "Regulace bankovního sektoru z pohledu ekonomické teorie [Regulation of the Banking Sector From the Economic Theory´s Point of View]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(1), pages 58-81.
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    1. repec:prg:jnlpep:v:preprint:id:527:p:1-23 is not listed on IDEAS
    2. repec:prg:jnlpep:v:2015:y:2015:i:5:id:527:p:1-23 is not listed on IDEAS

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    More about this item

    Keywords

    bank; Basel II; Basel III; fraud; operational risk; insurance;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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