Ai, Jing, authorBajtelsmit, Vickie, authorWang, Tianyang, authorJournal of Risk and Insurance, publisher2020-05-122020-05-122016-08-16Ai, J., Bajtelsmit, V., & Wang, T. (2018). The Combined Effect of Enterprise Risk Management and Diversification on Property and Casualty Insurer Performance. Journal of Risk and Insurance, 85(2), 513–543. https://doi.org/10.1111/jori.12166https://hdl.handle.net/10217/206710Includes bibliographical references (pages 24-27).Published as: Journal of Risk and Insurance, vol. 85, no. 2, June 2018, pp. 513–543. https://doi.org/10.1111/jori.12166.In a well‐designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic, financial, operational, and hazard risks under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. Using a sample of P&C insurers with S&P ERM quality ratings from 2006 to 2013, we find that the quality of a firm's ERM is a significant determinant of P&C insurer performance and that, for firms with high‐quality ERM programs, product line diversification has a significant positive effect on performance.born digitalarticleseng©2016 John Wiley & Sons, Inc. Author can archive pre-print. Author can archive post-print but subject to 12 months embargo for scientific, technical and medicine titles or 2 years embargo for humanities and social science titles.Copyright and other restrictions may apply. User is responsible for compliance with all applicable laws. For information about copyright law, please see https://libguides.colostate.edu/copyright.enterprise risk management (ERM)diversificationproperty and casualtyinsurance company performanceText