Dispute over direction of loss data consortiums
As loss consortiums enter a new era in their development, disputes and uncertainties about how much and what types of data should be recorded are becoming increasingly evident
External operational risk data consortiums are evolving, but not all in the same direction – and significant differences of opinion remain about what consortiums should be doing.
Consortiums disagree over what sort of loss events should be recorded, what information should be collected on each one, and whether data needs to be manipulated to keep it relevant to different-sized companies. And they are questioning what the fundamental purpose of external data should be – for operational risk
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