FM Global honored for claims management

JOHNSTON – FM Global, Rhode Island’s largest private company and one of the world’s largest commercial property insurers, has received the 2008 Claims Management Quality Award from Greenwich Associates LLC, a leading international research firm in the institutional financial services industry.

The award recognizes FM Global for “outstanding performance in claims management quality,” which was based on independent research that Greenwich Associates conducted involving 714 risk managers at large U.S. companies who were asked to rate major U.S. insurance carriers.

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FM Global received “above-average ratings on claims performance from large U.S. companies” and is “the only [insurer] that scores above average on the Greenwich Carrier Index [by] both middle-market and large U.S. companies,” Greenwich Associates said. “FM Global’s loss control engineering program is cited as providing the carrier with invaluable insight into the needs of its clients,” the research firm added. “With the complexity of global businesses and corporate risk management strategies today, carriers cannot hope to deliver superior processing and management on any individual claim without a deep understanding of the client company and its business.”

“Often, when a company has a loss, whatever can go wrong will and it becomes a moment of truth for the insurer,” Gerry Alonso, senior vice president and claims manager at FM Global, said in a statement. “FM Global’s adjusters are committed to getting our policyholders a check quickly, to leveraging our loss prevention engineering expertise to prevent a client’s property loss from becoming worse, and to being the eyes and ears for our clients to help them with a speedy recovery and ensure business continuity.”

(Last month, FM Global was named Best Property Insurer in the World, based on a survey of risk managers and top financial executives by Euromoney magazine. READ MORE.)

Greenwich Associates LLC – based in Greenwich, Conn., with branch offices in Toronto, London, Tokyo and Singapore – is a provider of market research, analysis and advice to decision-makers in the financial services industry. To learn more, visit www.greenwich.com.

Johnston-based FM Global – formed from the merger of Allendale Insurance and four other companies, and occupying the former Allendale headquarters – 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.