Out of 125 insurers and reinsurers, only 5 percent fall into the “excellent” category when it comes to the quality of their enterprise risk management practices, while 84 percent are “adequate,” according to Standard & Poor’s.

David Ingram, senior director of insurance ratings for Standard & Poor’s and a speaker at S&P’s ERM summit last month in New York, explained that ERM is a “tailored process” that differs from one company to another.

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