EIOPA · 2608
Other
- Regulation
- Other
- Article
- N/A
- Topic
- Other
- Submitted
- 2023-03-18
- Answered
- 2023-04-20
Question
Can you please define (thus how we should treat them in the regulatory context of EIOPA, EBA, etc) the concepts risk, threats, hazard and uncertainty? Is seems to be trivial, however reading through the different standards, industries, etc. is seem not very clear, particular risk and threats. Also how would you suggest to quantify them in a integrated manner? Also reviewing across academic journal is in some context the concept are used as sinounimus and in others not. Particular I would be interested in ERM and DORA context, since both concepts are covered,
Background
Threat is synonim for hazard and it is used only in economy, banking, insurance and other financial institutions. ISO 31000 use threat, but it is standard for Enterprise Risk Management and as such, does not apply to products and services. Industry, especially, Risky Industries, use only Hazard and Risk.
Answer
This question has been rejected because it does not relate to the consistent and effective application of the legal framework covered by this Q&A process, in particular the legislative acts referred to in Article 1(2) of the EIOPA Regulation.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
Similar Q&As
More Q&As on this topic
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.