JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global has been named the insurer risk managers and large insurance buyers would most recommend to peers for service in Business Insurance magazine’s 2011 Buyers Choice awards.
The results, according to findings from independent research firm Erdos & Morgan, were based on insurers’ rankings for seven key service attributes that large insurance buyers value most and which company they would most recommend for each.
The seven attributes included:
- demonstrates reliable customer service and responsiveness
- communicates effectively on key customer concerns and issues
- provides timely claims payments
- offers global capabilities
- provides good value for premiums paid
- uses cutting-edge technology to communicate and provide access to materials
- provides timely delivery of policy documents
The magazine noted FM Global “boasts a high contract certainty rate” and its “attention to service extends to all the insurer's operations.”
“Our platform is consistent around the globe,” said Tom Lawson, executive vice president at FM Global. “As a mutual insurance company owned by our policyholders, we believe we're better underwriters because we focus solely on business property insurance, understand property risk and provide clients with sound engineering solutions to safeguard their property. We're also better engineers because of our underwriting and claims expertise, which together helps our clients ensure business continuity.”
Founded in 1835, FM Global helps more than one of every three FORTUNE 1000 companies and similar-size organizations worldwide. Earlier this year, a study of U.S. corporate risk managers by Greenwich Associates ranked FM Global tops in customer service, claims processing and underwriting expertise. Additionally, in 2011 FM Global was named the “business favorite” for commercial property and business interruption insurance in a similar study conducted by Flaspöhler Research Group.
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, “Best Global Property Insurer” by Global Finance magazine and was voted “Best Commercial Property Insurer” in Business Insurance’s 2010 annual Readers Choice Awards.