What does Enterprise Risk Management mean? Read on to discover the definition & meaning of the term Enterprise Risk Management - to help you better understand the language used in insurance policies.
Enterprise Risk Management
A holistic approach to identifying, defining, quantifying, and treating all of the risks facing an organization, whether insurable or not. Unlike traditional risk management, ERM deals with all types of risk, such as hazard or event risk, operational risk, credit risk, and financial risk.
We hope the you have a better understanding of the meaning of Enterprise Risk Management.