John S. Alberici, of Alberici Corporation, explains that day-to-day activity or project-based insurance coverages are the focus of those in operations or the risk manager of an organization. However, enterprise risk management is typically initiated by captive boards to address the long-term view on risks and exposures with a focus on broader enterprise (balance sheet) driven coverages. Because a captive insurer is separate from the operating company, Mr. Alberici elaborates, it is easy to understand that enterprise risk management can be managed naturally by the captive.