Enterprise Risk Management (ERM) is a popular topic these days. Many insurers are in the process of establishing some form of ERM program or are well along the implementation path and are refining their approach. A key component of ERM is the risk assessment phase, which, for most insurers, takes the form of Economic Capital (EC). EC is the process of determining the amount of capital needed to survive based on sophisticated risk modeling. EC has the potential to shed new light on valuable opportunities for insurers, and some have reaped these benefits.