Each month, the ORX News team publish a list of the five largest operational risk losses reported in the previous month by industry and region. The top five provides a snapshot of the stories in the ORX News database.
ORX News is the industry’s leading source of publicly-reported operational and non-financial risk loss events. Subscribers get full access to the summaries of the losses mentioned below. Each summary provides an overview of the loss and is categorised by over 50 dimensions including:
- Sector, country and region
- Business line and event type level 1 and 2
- ORX Reference Taxonomy standard level 1 and 2
Read on to discover the top operational risk loss events that have had the most impact based on loss amount, followed by the largest loss for insurance, and finally the top losses in the North America and Europe, Middle East and Asia regions.
Five largest operational risk losses in November 2025
1. NSE - $157.7 million
NSE provisions and pays INR 13.98 billion to settle pending cases with SEBI (ORX News subscribers log in to read the full summary)
2. BlackRock - $150 million
BlackRock reportedly writes off USD 150 million over alleged asset-based financing fraud (ORX News subscribers log in to read the full summary)
3. Balancer - $106.9 million
Crypto protocol Balancer loses USD 106.9 million in hack (ORX News subscribers log in to read the full summary)
4. Horizon - $101.3 million
Horizon BCBS to pay USD 101.3 million over alleged overcharging in New Jersey state health plans (ORX News subscribers log in to read the full summary)
5. Colonial First State - $90.9 million
Colonial First State and AIA to pay AUD 140 million to settle class action over excessive fees (ORX News subscribers log in to read the full summary)
Largest insurance loss
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Horizon - $101.3 million
Horizon BCBS to pay USD 101.3 million over alleged overcharging in New Jersey state health plans (ORX News subscribers log in to read the full summary)
Largest losses by region
Subscribers of ORX News can log into the ORX News platform to view all top five losses by region.
North America
BlackRock - $150 million
BlackRock reportedly writes off USD 150 million over alleged asset-based financing fraud (ORX News subscribers log in to read the full summary)
Global
NSE - $157.7 million
NSE provisions and pays INR 13.98 billion to settle pending cases with SEBI (ORX News subscribers log in to read the full summary)
About ORX News
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