University of Malta Researchers Publish New Studies and Findings in the Area of Risk Management (Designing a Model for Testing the Effectiveness of a Regulation: The Case of DORA for Insurance Undertakings): Insurance – Risk Management

NewsRx Policy and Law Daily

2021 DEC 13 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- Data detailed on insurance have been presented. According to news reporting originating from the University of Malta by NewsRx correspondents, research stated, “Technology is sometimes seen as a disruption that although provides opportunities for growth and development, also provides opportunities for deception, theft, and fraud.”

Our news reporters obtained a quote from the research from University of Malta: “On the other hand, automation can make it easier to identify and protect from threats. Hence, a proposal was made by the European Commission to enact a digital operations resilience act. Therefore, our objective in this paper is to lay out the perceived characteristics of effective regulation by using DORA as our case study. We do this by carrying out a literature review and extracting using the thematic analysis approach propositions for these characteristics. Then, we test these using exploratory factor analysis and design a model for perceived effective regulation (PERM). We test the reliability and validity of this model by using the Cronbach alpha.”

According to the news editors, the research concluded: “Results show that according to our model, an effective regulation should have four characteristics, specifically ‘Flexibility and Integration’, ‘Proportionality and Cost’, ‘Reliability and Transparency’, and ‘Relevance and Timeliness’. Findings laid out in this paper and PERM can be used to test other proposed regulations to ensure that they are effective before being enacted and also to determine when there is a need for a revamp in specified areas of current regulations and requirements.”

For more information on this research see: Designing a Model for Testing the Effectiveness of a Regulation: The Case of DORA for Insurance Undertakings. Risks, 2021,9(206):206. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks9110206.

Our news journalists report that more information may be obtained by contacting Simon Grima, Department of Insurance, Faculty of Economics Management and Accountancy, University of Malta, MSD 2080 Msida, Malta. Additional authors for this research include Pierpaolo Marano.