The exposure and reporting of misconduct carried out by a member of the public or within an insurer by a Board Member, Senior Manager or other member of staff.
Wrong way risk
The risk that occurs when exposure to counterparties, such as financial guarantors, is adversely correlated to the credit quality of those counterparties.
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The glossary provides definitions of the main terms used by IAIS working parties in their work. It can also be used as a training and educational tool for regulators.