JOHNSTON, R.I., USA—Affiliated FM Insurance Company has rebranded from Affiliated FM to AFM. The global middle market property insurer has also introduced a new policy that features enhanced cyber and fire coverage. Both moves come in response to recently sought broker and client feedback.
Policy enhancements include:
- Computer System Non-Physical Damage extends AFM’s cyber-related business interruption coverage—specifically, if the insured’s electronic data processing equipment or media fail to operate due to the result of a malicious action directed at the insured.
- Protection and Preservation of Property includes coverage for fire department charges (i.e., firefighting materials and expenses, metered water) without sublimit. It also adds coverage for security charges for 30 days. Business interruption is included as part of that enhancement.
“AFM’s new proVision 4100 policy offers enhanced coverage and limits to clients and brokers. It also provides simpler construction, better readability and greater contract certainty,” said Mike Lebovitz, senior vice president of AFM. “As middle market property risks continue to evolve, our goal is to offer market-leading insurance coverage and engineering solutions that help our brokers and clients develop a long-term competitive advantage.”
Specializing in property insurance for the middle market, AFM serves clients around the world, helping them identify, prioritize and reduce future loss in a practical and affordable way. AFM is a member of the FM Global Group, one of world’s largest commercial and industrial property insurers.