Deadly virus mutations, record hurricanes, historic wildfires, and a beached cargo ship: Though unexpected, all were known business risks that would have been worse if complicated by yet another surprise—a serious earthquake. The ever-present risk of earthquakes, which on average causes nearly US$40 billion in direct economic loss every year, is why FM Global, one of the world’s largest commercial property insurers, today released the world’s most comprehensive global earthquake risk map.
Colin Day, chairman of Premier Foods plc, one of Britain’s largest food manufacturers, has been elected to the board of directors of commercial property insurer FM Global. FM Global’s board comprises executives from the world’s most sophisticated manufacturing, distribution and service organizations. Day previously served on FM Global’s board when he was chief executive of Essentra plc.
FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best. The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.
Fitch has affirmed commercial property insurer FM Global’s ‘AA’ (Very Strong) financial strength rating with a “stable” outlook. According to Fitch, “the ratings affirmation reflects FM Global's long-term underwriting profitability, very strong capitalization and competitive advantages derived from the company's engineering expertise and global presence in specialty commercial property insurance markets, as well as benefits drawn from the company's mutual company status.”
As many industries grapple with the economic and commercial disruption of the COVID-19 pandemic, FM Global, one of the world’s largest commercial property insurers, is offering key advice for risk and insurance managers for an effective renewal process with their commercial property insurer, to help meet the challenges posed by the changing market conditions.
Commercial property insurer FM Global has won a 2020 Innovation Award from Business Insurance magazine for the creation of the FM Global Cyber Lab. In the new facility, FM Global scientists study real-world cyber threats and test different defense options.
As part of its ongoing efforts to competitively position its insurance products and loss prevention engineering services, FM Global, one of the world’s largest commercial property insurers has made two senior-level moves in the organization.
If flood is allowed to disrupt your business, your stock value could drop significantly in the next 12 months, reflecting investors’ shaken confidence in your company’s managerial decision-making. That is according to a new analysis commissioned by FM Global and conducted by analytics advisory group Pentland Analytics.
Although the pandemic dominates the world’s attention, climate risk is simmering in the background, with 57% of Asia Pacific CEOs and CFOs reporting that addressing climate risk is a high priority in their company.
Following recent tragedies in the U.S., stemming from racial and other social injustice and whose impact is being felt globally, FM Global, one of the world’s largest commercial property insurers, is donating US$500,000 to the Equal Justice Initiative.