October 26, 2009

Corporate Insurance Buyers Rank FM Global the Number One Commercial Property and Business Interruption Insurer

Company also rated highest on every selection factor important to risk managers
 

JOHNSTON, R.I., USA—According to a newly released study by the Flaspöhler Research Group of more than 400 corporate insurance buyers, FM Global, one of the world’s largest business property insurers, came out on top as the “Risk Manager Choice” for commercial property and business interruption coverage—two of the company’s prime areas of business.

FM Global, whose clients include more than one out of every three FORTUNE 1000 companies and similar-sized organizations operating in nearly 200 countries, also was the most highly rated in all seven “evaluation and selection factors” commercial insurance buyers consider important when placing coverage—underwriting capabilities, financial value, financial security, client orientation, expertise and market knowledge, timely service and claims-handling.

The research was conducted in partnership with National Underwriter magazine, which noted in its Oct. 19, 2009, issue that “what FM Global does, it does very well in the eyes of risk managers.” FM Global’s “engineers work with clients to help prevent losses from happening in the first place,” the magazine reported, and “this focus on each client’s particular situation when it comes to loss prevention is a key factor in the company’s success, which no doubt helped secure FM Global’s leadership position.”

According to Rick Flaspöhler, president of Flaspöhler Research Group, the 411 risk managers surveyed were asked to rate carriers with which they are familiar, among more than 50 insurers listed. On a scale of one to nine, FM Global scored higher than “7,” and frequently was rated nearly an “8” for all of the evaluation categories—with 7 or higher “seen as truly excellent,” Mr. Flaspöhler said.

In recent years, FM Global has also been:

• Ranked number one for quality of coverage, claims handling and documentation and for overall product and service quality, according to studies conducted by Strategic RISK magazine
• Rated highest by U.S. corporate insurance buyers for “overall customer service,” “underwriting expertise,” “ease of working relationship,” “claims processing responsiveness” and “willingness to pay claims,” according to research conducted by Greenwich Associates
• Named “Best Property Insurer in the World” by risk managers and financial executives of the world’s top companies, based on research conducted by Euromoney magazine
• Labeled the “Best Global Property Insurer” and the “Best Property Insurer, North America” by Global Finance magazine

Established nearly 175 years ago, FM Global (www.fmglobal.com) ranks 766 among FORTUNE magazine’s largest companies in America. Clients work with FM Global to develop robust property insurance and engineering solutions to protect their business operations from property risk. The company is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings.

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