The major differences between ERM $($Enterprise risk management$)$ and TRM $($Traditional risk management$)$ are thatGroup of answer choicesTRM is a more integrated holistic approach and ERM handles mostly hazard risk.None of the above.TRM is handled by risk transfer and ERM is mostly handled by insurance.TRM focuses on losses and ERM focuses on profit.TRM handles mostly hazard risk and ERM is a more integrated holistic approach.