JOHNSTON – FM Global, Rhode Island’s largest private company and one of the world’s largest commercial property insurers, has been named the Best Property Insurer in the World in a survey of risk managers and top financial executives, according to Euromoney magazine.
“Risk to property, even if it is no longer the only worry for businesses to insure, still remains the biggest single risk,” the magazine noted in its report.
“FM Global does only one thing, but strives to do it supremely well. FM Global provides [engineering] advice on protecting plant and equipment, reduce the likely incidence and scale of losses and then to offer large-scale insurance cover.” That role, as “a specialist in a world of generalist global insurers,” has helped make FM Global a “hugely successful company,” the magazine said.
Its researchers interviewed chief risk officers and chief financial officers at large corporations in North America, Europe, Latin America, Asia and the Middle East, asking them about which insurers they considered the best at risk mitigation. The survey’s 255 respondents included representatives of “many of the biggest payers of premiums to the global insurance industry, [and] also the most sophisticated and demanding buyers,” Euromoney said.
“Because we are a mutual company, owned by our policyholders, we have many very long-term client relationships,” FM Global Chairman and CEO Shivan S. Subramaniam said today. “Those clients are much more concerned with preventing any disruption of business in the first place, rather than relying on insurance alone to help them recover from a loss.”
FM Global is a commercial and industrial property insurer with 4,800 employees in 52 offices worldwide. Its roots in Rhode Island stretch back to 1835. Additional information is available at www.fmglobal.com.
Euromoney magazine is read by more than 140,000 financial professionals. For more information, including the 2008 Best Property Insurer in the World report, visit www.euromoney.com.
