- Only just over half employ actuarial consultancies based on their technical skills/resources!
- Just over half had an ERM process in place, but under half had a formal process for determining risk appetite/tolerance/limits - how these numbers cannot match up is beyond me, unless there are some pretty sketchy excuses for ERM programmes out there!
- Almost half of those without ERM reasoned this with "no-one has been able to articulate the value"
- Of those with a programme in place, over 80% have assigned ownership of key risks, and two-thirds have regular reporting to boards on the subject
- A participation rate of 2% of those invited (alkmost 10,000) - not exactly a hot topic then!
The messages on communicating value of ERM are however quite easy for EU risk functions to deliver now - it is the cost of staying open in Jan 2013...