FM Global News

$1 Spent on Hurricane Protection Equals $105 in Business Property Loss Savings

Take it to the bank: Every $1 a business spends on hurricane protection in the U.S. reduces loss exposure by an average of $105. That’s based on a new analysis by FM Global, a global commercial and industrial property insurer. …

People News: Coverys, FM Global, Tokio Marine

Sheps Promoted to VP of Claims at Coverys Coverys, a provider of medical professional liability insurance, announced the appointment of Stephanie Sheps to vice president of Claims. Sheps inherits the position from Barbara Staples who recently retired from the organization …

People News: Brit Ltd, Travelers, FM Global

Brit Expands U.S. Claims Function With Senior Hire Brit Ltd. named Christopher Ballantyne to the newly created role of vice president of Delegated Claim Authority. He will report to Mike Barry, head of Short Tail Claims. Ballantyne will be responsible …

Major U.S. Firms Unprepared for 2017 Hurricanes

For senior financial executives at large U.S.-based companies with operations in Texas, Florida or Puerto Rico, last year’s hurricane season brought not only catastrophe to their communities, but a risk management wake-up call for 2018 and beyond. A survey of …

Business News: Lemonade, FM Global, Wolters Kluwer, TD Risk Management

Lemonade Expands into Illinois Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it has been licensed as a full-stack insurance carrier by the State of Illinois. Renters in the state can now buy a Lemonade policy …

Commercial Property Insurer FM Global Reports Rise in Gross Premium, Profits in 2016

FM Global, a global business property insurer, posted an improved combined ratio of 83.2 percent in 2016—compared to 85.3 percent a year earlier—which was a market-leading result for the fourth consecutive year. Total gross premium in force increased to $5.43 …

FM Global Releases Results of Warehoused Lithium Ion Battery Fire Tests

Lithium-ion batteries, so useful in smartphones, electric cars and energy storage systems, can catch fire and explode. The risk is magnified in warehouse settings where hundreds of thousands of batteries could be stored. Because of the fire risk, FM Global, …

FM Global: Next Generation Fire Sprinklers Aimed at Curbing Warehouse Fires

Warehouses, served by increasingly powerful automated materials-handling equipment, are steadily getting taller, posing new fire risks and stressing traditional fire protection systems like heat-triggered ceiling sprinklers. FM Global, a global commercial property insurer, has pioneered research on next-generation sprinklers that, …

Aftermath of Hurricane Matthew Leads Businesses to Focus on Preparedness

The ravages of Hurricane Matthew are prompting businesses to rethink their natural hazards preparedness, with more than one out of four surveyed employees in the stricken region saying they believe their companies will increase investment in the area. Matthew was …

Business News: Liberty Mutual, Lemonade, FM Global, QBE

Liberty Mutual Insurance Introduces 2 New Excess Casualty Offerings Liberty Mutual Insurance launched two new excess casualty products: the Utility Follow Form Excess for the power and utility sectors, and the Integrated Occurrence Form for the large corporate sector. Both …