Which of the following is a company-wide, strategic approach to identifying, monitoring, and managing a company's risk?
A) enterprise risk management
B) business interruption insurance
C) key person life insurance
D) professional liability insurance

Question

Quizplus · Accepted Answer

Enterprise risk management is a comprehensive approach to identifying, analyzing, and managing all types of risks across an entire organization. It involves evaluating potential internal and external risks, developing strategies to mitigate those risks, and monitoring and adjusting those strategies over time. Business interruption insurance, key person life insurance, and professional liability insurance, on the other hand, are specific types of insurance policies that address particular types of risks.

Which of the Following Is a Company-Wide, Strategic Approach to Identifying