In this session, the first paper will provide an assessment of the current techniques used to assess operational risk in the financial services industry globally. The concept of the second paper is to identify, analyze, assess, measure, manage and control operational risk effect on insurance company's activity with the help of the discriminant model created by the authors. Through an operational-risk management framework, the third paper presents principles and initiatives that have the potential to assist insurers in their identification and management of their operational risks. Furthermore, the use of operational-loss data in this framework is discussed as it is believed that is a valuable tool at every stage.