Enterprise Risk Management Does Not Alleviate Financial Crisis Impact on Insurance Companies
The study looked at how insurance companies in the Netherlands were affected by the financial crisis. They wanted to see if using a certain type of risk management called enterprise risk management (ERM) could help companies perform better during the crisis. They collected data from 39 insurance firms and found that firms with higher ERM implementation actually had lower performance before and during the crisis. This means that ERM did not help companies do better during tough times.