FM Global is a commercial and industrial property insurance company headquartered in Johnston, Rhode Island, United States. It operates on a mutual insurance company structure, meaning it is owned by its policyholders. FM Global differentiates itself from other insurance providers by emphasizing loss prevention engineering and research alongside its insurance offerings.
The company provides comprehensive property insurance and risk management solutions, primarily focused on large corporations and multinational organizations. Its services include risk assessments, engineering consultations, research into property loss prevention, and the development of hazard mitigation strategies. FM Global's loss prevention approach aims to minimize property damage and business interruption in the event of a covered loss, rather than solely focusing on indemnification after a loss has occurred.
FM Global's research division conducts scientific testing and analysis to understand the causes of property losses and to develop more effective protection methods. This research is widely shared with clients and the broader industry to promote best practices in property protection.
Key aspects of FM Global's approach include:
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Engineering-Driven Risk Management: Focus on identifying and mitigating potential hazards to minimize property damage and business interruption.
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Mutual Ownership: Policyholders are also the owners of the company, aligning incentives around loss prevention.
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Research and Development: Investment in scientific research to understand loss patterns and develop innovative protection solutions.
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Global Reach: Services provided to clients worldwide.