Insurance Operational Risk Loss Data Report 2021

  • 9 August 2021

Do you know what types of operational risk events are causing the most losses for finance firms around the world? Are you aware of the business lines and event types that are having the biggest impact? Find the answers in our latest operational risk loss data reports.

Every year ORX produces a report on our global insurance loss database. We also publish a report summarising the data in our banking database. The reports explore the frequency, severity and key trends in operational risk loss events in the insurance and reinsurance industry. This year’s insurance report examines the last six years’ worth of data in our database – from the start of 2015 to the end of 2020.

Get comprehensive analysis of the ORX global loss data

The ORX operational risk databases contain actual loss event data shared by our member banks and insurers from around the world. Our Annual Operational Risk Loss Data Reports – one for the banking sector and one for the insurance sector – explore the last six years of operational risk loss data in the databases. 

The reports provide analysis and insight into the data, helping you understand important trends and developments in operational risk. They also have a 'risk in focus' section that concentrates on the impact of coronavirus. These reports are available for free to our members and for non-members to purchase for just £750.

Download the free summary report

To provide you with an overview of the ORX insurance data, we've created an executive summary report which is free to download.

Download the report for a summary of the last six years of operational risk losses, including an infographic showing data such as average annual gross loss across 2015 to 2020, coronavirus loss impact in 2020 and severity of loss by region.

Free summary report

Download the executive summary

Executive summary

2020 was a turbulent year for the global community and was unsurprisingly very significant from an operational risk perspective. Insurers initially faced the sudden threat of the pandemic, with its impact on operations and customers, and then the evolution of the operational risk profile.

We reported in the ORX Top Risk Reviews a notable increase in the cyber threat, the ever-increasing challenge of managing change, technology and data risk as digitalisation projects accelerated and the challenge of the regulatory environment.

Download the summary report for more information and an overview of the data

Overview of insurance losses

Overview of the ORX insurance loss data infographic
Download the free summary report for a copy of the infographic

Buy the full report for more insights and analysis

The full version of the ORX Insurance Annual Operational Risk Loss Report is available for you to purchase for just £750. Buy the report for our complete analysis of the operational risk loss data in the ORX global insurance database, including:

  • Loss frequency and severity from 2015-2020
  • Event frequency and total loss by business line and event type
  • Losses by business type
  • Geographic distribution of losses
  • Risk in focus section looking at the impact of coronavirus
Find out more and buy the report

Read the full analysis in the free report

Annual Insurance Loss Report 2020