Enterprise Risk Management:
A) is only applicable to insurance firms
B) is an outdated method of dealing with risk
C) works best when evaluating risks is distinct company silos
D) is a process that examines all risks collectively

Question

Quizplus · Accepted Answer

Enterprise Risk Management (ERM) is a process that examines all risks collectively, including financial, operational, strategic, and external risks. It does not apply only to insurance firms and is not an outdated method. ERM works best when evaluating risks across company silos and considering how risks may interconnect across the organization.