Beazley has joined the growing list of members of ORIC, the operational risk loss data consortium for the global insurance sector.
Andrew Pryde, chief risk officer at Beazley, said “ORIC is a leading player and a thought leader. The consortium gives its members access to valuable external data that enhances our internal data and helps inform operational risk quantification and modelling in a Solvency II environment. We are particularly looking forward to engaging with the other members of the consortium to innovate and develop best practice for the sector”.
Caroline Coombe, director of ORIC said “We’re at the forefront of developing best practice on issues the sector is grappling with. I’m delighted to add Beazley’s operational risk expertise to the mix strengthening our offering for insurance companies with Lloyd’s syndicates”.
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