LONDON, UK—FM Global, one of the world’s largest commercial property insurers, has received a 2014 Innovation Award from Business Insurance magazine for its SimZone, a distinct 12,000-square-foot training facility located at FM Global’s Centre for Property Risk Solutions in Norwood, Mass., USA.
In an online video profile about the 21st century classroom, the magazine reported that “clients have the opportunity to experience and learn from a multitude of replicated real world property risks including fires, ignitable liquid perils, equipment malfunctions, and construction and electrical hazards.”
“When it comes to mastering a specific skill set, there is no substitute for real-life experience,” added the magazine in its March 17, 2014 issue. “Pilots acquire and hone the skills they need with the help of flight simulators, and now risk management professionals can do the same thanks to the FM Global SimZone.”
The Innovation Award recognises leadership and the most innovative new products and services for risk managers. An independent judging panel, comprising professional risk managers, selected the winners based on originality in serving the needs of professional risk managers; relevancy to the core concerns of risk managers; effectiveness in solving one or more risk management problems; ease of use and understanding; and the results achieved when implemented by risk managers.
About FM Global
For nearly two centuries, many of the world's largest organisations have turned to FM Global (www.fmglobal.co.uk) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, FM Global has been named "Best Property Insurer in the World" by Euromoney magazine, "Best Global Property Insurer" by Global Finance magazine and received the prestigious Queen's Award for Enterprise, as well as the 2013 CIR Risk Management Insurance Partnership of the Year Award. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which celebrated its 50thanniversary of international operation in 2013.