LONDON, UK—Insurance buyers representing both large and mid-size organisations say FM Global is the best commercial property insurer for "service," "expertise," and "overall," in Business Insurance magazine's 2012 Buyers Choice awards.
The findings are based on data collected by Blackstone Group, an independent global market research firm. Buyers ranked key service and expertise attributes such as "providing good value for premiums paid," "demonstrating reliable customer service and responsiveness," and "providing timely claims payments." Buyers then identified who they would recommend who best demonstrated such attributes. The magazine noted "FM Global sets itself apart with (its) emphasis on engineering services."
"As an engineering-driven specialty insurer, focused solely on commercial property protection, we're better underwriters because of our loss prevention engineering and we're better engineers because of our underwriting," said Jon Hall, executive vice president, FM Global.
"Both large and mid-size companies value our ability to provide significant, stable capacity and pay claims quickly," Hall added. "Many large companies value FM Global's ability to deliver consistent and compliant products and services worldwide. Middle-market insurance buyers tend to be more regional in nature and often most appreciate the specialised services provided by our middle-market company, Affiliated FM, particularly given that such policyholders often do not have a risk manager on staff."
Hall noted that both FM Global and Affiliated FM continually seek ways to improve and better meet clients' needs and the organisation consistently maintains a client retention rate of more than 90 percent year after year.
About FM Global
Established in 1835, FM Global (www.fmglobal.co.uk) is a mutual insurance company, owned and governed by its policyholders, which include more than one of every three FORTUNE 1000 companies and similar-sized organisations in more than 130 countries. In recent years, FM Global has been named "Best Property Insurer in the World" by Euromoney magazine and received the prestigious Queen's Award for Enterprise. The company is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which is regulated by the Financial Services Authority.