S&P’s ERM Framework

It discusses S&P's ERM assessment guidelines where an insurer's ERM is scored as very strong (1), strong (2), adequate with strong risk controls (3), adequate (4) or weak (5) based on the assessments of the five sub-factors, which we classify as positive, neutral, or negative. The analysis is evidence based- An insurer receives a neutral score for any of the five sub-factors where evidence is insufficient to assign either a positive or a negative score.