JOHNSTON, R.I., USA—Just when insurers may be scrambling for ways to restrict coverage and reduce capacity to stave off the fallout from the next major disaster, FM Global, one of the world’s largest commercial property insurers, today announced that a new and improved FM Global Advantage® policy is now available to clients at renewal. Policy enhancements include the addition of four new coverages (Accidental Interruption of Services, Attraction Property, Crisis Management, and Machinery or Equipment Startup Option) and one dozen expansions to existing coverage to keep pace with clients’ exposure to emerging property risks. Additionally, the policy’s terms and conditions have been simplified to make it easier to read and understand.
“As the world becomes an increasingly risky place, it’s important that companies protect themselves with a comprehensive insurance policy that keeps pace with the evolution of that risk,” said Carol Barton, senior vice president, underwriting and reinsurance, FM Global. “As we continue to serve our mutual policyholders’ best interests, we’re committed to providing them the broadest coverage in the marketplace, backed by stable capacity and with the highest level of contract certainty.”
About FM Global
For more than 175 years, many of the world’s largest organizations have turned to FM Global 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 ranks #570 among FORTUNE magazine’s largest companies in America and is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. The company has been named “Best Property Insurer in the World” by Euromoney magazine and “Best Global Property Insurer” by Global Finance magazine.