Legal events reporting practices

Key takeaways - September 2026

Legal events present unique challenges for operational risk managers. Litigation can have a material impact on profitability, while cases are often complex and lengthy. Decisions on when to report a provision, settlement or loss event can significantly affect a firm’s loss dataset.

This report shares industry practice on how firms report legal impacts in operational risk management and measurement, including how they manage access to confidential and legally privileged information.

The study reflects practices across 23 ORX member banks and 6 ORX insurers, and provides a benchmark for comparing your firm’s approach to legal event reporting with industry practice.