How does Traditional Risk Management $($TRM$)$ differ from Enterprise Risk Management $($ERM$)?$

Group of answer choices

TRM and ERM are identical in their approach to managing risks across the organization.

ERM and TRM both use a siloed approach, but ERM does not consider financial risks.

TRM uses the four quadrants of risk, while ERM only addresses risks that can be insured.

TRM typically views risks in departments $($or silos$)$ while ERM addresses risk across the entire organization using the four risk quadrants: hazard, financial, operational, and strategic risks.