BOSTON-The practice of actively managing obstacles to bottom-line objectives, known as Enterprise Risk Management (ERM), first emerged a dozen years ago. The fuel: the $4.6 billion collapse of Long Term Capital Management in 1998. A decade later, the credit crisis of 2008 brought risk management back to the forefront.

"The level of interest in ERM has never been greater," said James Lam, president, James Lam & Associates, who gave the opening address at NICSA's inaugural risk seminar here last Monday.

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