Financial Risk Manager Part 2
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A financial institution experienced significant damage to several of its commercial branch structures due to a hurricane. As part of the recovery process, a financial analyst at the institution is responsible for determining the relevant costs to include when recording this loss in the operational risk event database. Which of the following expenses related to this loss should be documented in the operational loss report?
A financial institution experienced significant damage to several of its commercial branch structures due to a hurricane. As part of the recovery process, a financial analyst at the institution is responsible for determining the relevant costs to include when recording this loss in the operational risk event database. Which of the following expenses related to this loss should be documented in the operational loss report?
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A
Costs of insurance premiums paid to insure the buildings before the storm took place
18.2%
B
A provision for the estimated opportunity costs of lost banking business at the affected branches
18.2%
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