NU Online News Service, Dec. 9, 3:41 p.m. EST
The financial services industry, including insurance, has made strides in the two years since the financial crisis to incorporate enterprise risk management into decision-making, Towers Watson found in its 2010 ERM survey.
"Financial Crisis Puts Spotlight on ERM: An ERM Update on the Global Insurance Industry" surveyed 465 chief risk officers, chief financial officers and chief actuaries in insurance companies around the world.
The survey found that seasoned ERM practitioners advanced in making ERM part of their decision-making process and in economic capital modeling, Towers Watson said. Less seasoned ERM practitioners also continued to strengthen their ERM frameworks.
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