June 21, 2012 – Only half of respondents to the “Financial Regulatory Survey,” from StoneRiver, have an enterprise risk management (ERM) process, and 23 percent of them said it’s not a formal process with reporting. An additional 12 percent are in the process of developing an ERM process.
"Responses to some of the survey questions were not surprising, but they were disheartening,” said Connie Jasper Woodroof, StoneRiver liaison to the National Association of Insurance Commissioners (NAIC). “In today's business atmosphere, a company needs to stay current on looming regulatory issues so the organization can move ahead with a plan when those regulations go into effect.”
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