JOHNSTON, R.I., USA—FM Global, one of the world’s largest commercial property insurers, has received a 2015 Innovation Award from Business Insurance magazine for its Resilience Index, the first data-driven tool and repository that ranks the business resilience of 130 countries and territories to supply chain disruption.
The Innovation Awards showcase “the best new products and services launched over the past year for risk managers,” and the “high caliber” of those who “continue to break new ground with their offerings,” says the magazine.
Business Insurance notes in its March 2, 2015 edition that the FM Global Resilience Index “provides users with country-level insights into the risks and vulnerabilities facing suppliers and customers as well as data to support risk management and business decisions.”
According to Jonathan W. Hall, FM Global’s chief operating officer, “the Resilience Index gives business executives a new and simple way to analyze global supply chain risk. If people understand the exposures they face, they’ll make good decisions.”
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.
In 2014, the company’s SimZone, a distinct 12,000-square-foot training facility for its clients and engineers located at the FM Global Center for Property Risk Solutions in Norwood, Mass., USA, was also recognized with a Business Insurance Innovation Award.
Business Insurance reaches more than 150,000 readers responsible for insurance, risk management and finance at their firms.
Marking 180 years in business in 2015, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. Those owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every three FORTUNE 1000 companies. They work with FM Global to better understand the key property hazards that can impact their business continuity to make cost-effective risk management decisions combining property loss prevention with insurance protection.