This paper explores insurance as a source of financial system vulnerability. It provides a brief overview of the insurance industry and reviews the risks it faces, as well as several recent failures of insurance companies that had systemic implications. Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. Building on this experience and the experience gained under the FSAP, the paper proposes key indicators that should be compiled and used for surveillance of financial soundness of insurance companies and the insurance sector as a whole.

Threats to an organization's operations, such as fraud, IT disruption or poorly designed products, could result in serious losses. Understand the key components of effective operational risk management with this essential book for risk professionals and students. Fundamentals of Operational Risk Management outlines how to implement a sound operational risk management framework which is embedded in day-to-day business activities. It covers the main operational risk tools including categorisation, risk and control self-assessment and scenario analysis, and explores the importance of risk appetite and tolerance. With case studies of major operational risk events to illustrate each concept, this book demonstrates the value of ORM and how it fits with other types of risk management. There is also guidance on the regulatory treatment of operational risk and the importance of risk culture in any organization. Master the essentials and improve the practice of operational risk management with this comprehensive guide.

The second edition of a bestseller, this definitive text covers all aspects of testing and maintenance of the equipment found in electrical power systems serving industrial, commercial, utility substations, and generating plants. It addresses practical aspects of routing testing and maintenance and presents both the methodologies and engineering basics needed to carry out these tasks. It is an essential reference for engineers and technicians responsible for the operation, maintenance, and testing of power system equipment. Comprehensive coverage includes dielectric theory, dissolved gas analysis, cable fault locating, ground resistance measurements, and power factor, dissipation factor, DC, breaker, and relay testing methods.