A majority of organizations have an enterprise risk management program but a “surprisingly large minority” of these programs do not include property risks.
According to a survey by Advisen, done in partnership with XL, 61 percent of the 507 risk managers and insurance buyers who took part say ERM program are in place at their organization but 44 percent the program exclude property. The results “[call] into question the enterprise-wide scope of these programs,” says a report of the results.
Additionally, 42 percent of risk professionals say they aren't involved in decisions their company makes regarding building acquisitions or construction—though 54 percent say there is someone within the company devoted to or substantially responsible for property risk.
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