NEW YORK--Out of 125 insurers and reinsurers, only 5 percent fall into the "excellent" category for their enterprise risk management practices, while 84 percent are "adequate," according to Standard & Poor's.
David Ingram, senior director, insurance ratings, for Standard & Poor's, and a speaker at S&P's ERM summit here, explained that ERM is a "tailored process" that differs from one company to another.
He noted that once a company is reviewed, S&P forms an opinion. The opinion is summarized in one word as "adequate," "strong" or "excellent."
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