https://newsroom.fmglobal.com.au/releases.xmlNews Releases - FM Global AU2024-03-23T13:02:12.493385+00:00python-feedgenNews Releaseshttps://newsroom.fmglobal.com.au/releases/2024-fm-global-resilience-index-highlights-a-rapidly-evolving-risk-landscape2024 FM Global Resilience Index Highlights A Rapidly Evolving Risk Landscape2024-03-23T13:02:12.628943+00:00unspecified<![CDATA[<p><strong>MELBOURNE, AUSTRALIA, </strong><strong>March 22, 2024</strong> – Commercial property insurer <a href="https://www.fmglobal.com.au/">FM Global</a> today unveiled the 2024 FM Global Resilience Index with key updates to reflect the rapidly changing nature of risks faced by global businesses. The 2024 FM Global Resilience Index adds several new factors to its rankings, including education, inflation, internet usage, water stress, greenhouse gas emissions and climate change exposure.</p>
<p>The index’s 18 factors determine its annual ranking of 130 countries and territories by the resilience of their business environments. FM Global has steadily refined the interactive index over the past decade to encompass evolving concepts of business risk and resilience. The new measures reflect emerging factors and risks to ensure the index continues to support strategic considerations for global businesses as they make critical decisions such as site selection, supply chain design and loss prevention.</p>
<p>“Businesses need incisive information to thrive in today’s challenging and constantly changing environment,” said Chris Majka, staff vice president, data visualisation and reporting at FM Global. “With these new factors, the 2024 FM Global Resilience Index offers organisations important new insights as they make strategic decisions that could affect their operations and performance for years to come.”</p>
<p><strong>2024 FM Global</strong> <strong>Resilience Index rankings</strong></p>
<p>In the <a href="https://www.fmglobal.com/research-and-resources/tools-and-resources/resilienceindex">2024 FM Global Resilience Index</a>, <strong>Denmark</strong> preserved its title as the world’s most resilient business environment. Rounding out the top 10 most resilient business environments are <strong>Luxembourg</strong>, <strong>Singapore</strong>, <strong>Switzerland</strong>, <strong>Germany</strong>, <strong>Sweden</strong>, <strong>Finland</strong>, <strong>Norway</strong>, <strong>Belgium</strong> and the <strong>central United States</strong> (the United States is divided into three separately ranked regions).</p>
<p>Each country’s overall ranking is based on quantitative data in 18 resilience factors. Factors are sourced from a combination of respected third parties and FM Global’s vast engineering database, which draws upon data from FM Global property risk engineers who visit and assess more than 100,000 locations annually around the world.</p>
<p>This year’s index, which incorporates proprietary AI-enhanced risk modelling, includes twice as many resilience factors as the inaugural index in 2014. Users can drill into any factor to explore specific concerns, discovering data such as greenhouse gas reduction in Belgium and India, water conservation in Australia and political risk in Russia and Ukraine. A revamped interface streamlines factor-by-factor analysis.</p>
<p>The 2024 FM Global Resilience Index has been validated by real-world property-loss data. Countries ranked in the top 50 of the FM Global Resilience Index recover over 30% faster from property losses, on average, than locations in other countries.</p>
<p><strong>New resilience factors</strong></p>
<p>The 18 equally weighted resilience factors include:</p>
<p><img alt="Resilience Index Table Final" src="https://s3.amazonaws.com/cms.ipressroom.com/240/files/20242/65fb40823d6332568e371a10_Resilience+Index+Table+Final/Resilience+Index+Table+Final_mid.png" /></p>
<p>These factors collectively capture the resilience of a country’s business environment from a Macro perspective, such as political, economic and social risk, as well as from a Physical risk perspective. Physical factors affect a company’s property and tangible assets.</p>
<p>The index is part of FM Global’s effort of nearly 200 years to help protect clients’ businesses using world-class research, product testing and loss-prevention engineering.</p>
<p>Explore the 2024 FM Global Resilience Index:</p>
<ul>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17062" target="_blank" title="https://fmglobalpublic.hartehanks.com/assetdisplay?acc=11fm&itemcode=p17062">Executive Summary</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17095" target="_blank" title="https://fmglobalpublic.hartehanks.com/assetdisplay?acc=11fm&itemcode=p17095">Frequently Asked Questions</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=W00234" target="_blank" title="https://fmglobalpublic.hartehanks.com/assetdisplay?acc=11fm&itemcode=w00234">Methodology</a></li>
</ul>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>FM Global today unveils the 2024 FM Global Resilience Index with key updates to reflect the rapidly changing nature of risks faced by global businesses.2024-03-21T21:58:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-financial-strength-rating-affirmed-a+-superior-by-am-bestFM Global Financial Strength Rating Affirmed A+ (Superior) by AM Best2024-03-23T13:02:12.663766+00:00unspecified<![CDATA[<p><strong>MELBOURNE, AUSTRALIA, Feb. 13, 2024 </strong>– Commercial property insurer Factory Mutual Insurance Company (“<a href="https://www.fmglobal.com.au/">FM Global</a>”) today announced that AM Best, a leading global credit rating agency, news publisher and data analytics provider specializing in the insurance industry, affirmed the company’s Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) with a stable outlook.</p>
<p>“The ratings reflect FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management,” according to <a href="https://news.ambest.com/newscontent.aspx?AltSrc=104&RefNum=255635">AM Best.</a></p>
<p>AM Best also stated that “FM Global maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio” and a balance sheet with “proven long-term resilience against natural catastrophe losses.”</p>
<p>The 2024 AM Best ratings follow AA and A+ ratings <a href="https://newsroom.fmglobal.com.au/releases/releases-20231127">announced in late 2023 by Fitch and S&P Global</a>, respectively, for FM Global.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
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]]>AM Best affirmed FM Global's Financial Strength Rating of A+ (Superior) and Long-Term Issuer Credit Ratings of “aa” (Superior) with a stable outlook.2024-02-14T01:48:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-announces-sponsorship-of-lpga-star-megan-khangFM Global Announces Sponsorship of LPGA Star Megan Khang 2024-03-23T13:02:12.691559+00:00unspecified<![CDATA[<p><strong>MELBOURNE, AUSTRALIA, Feb. 9, 2024 </strong>– Commercial property insurer <a href="https://www.fmglobal.com.au/" target="_blank">FM Global</a> today announced it will sponsor top-ranked LPGA golfer and New England native Megan Khang for the 2024 and 2025 seasons. </p>
<p>The sponsorship follows last year’s announcement of the <a href="https://newsroom.fmglobal.com.au/releases/tpc-boston-to-host-2024-fm-global-championship" target="_blank">FM Global Championship</a>, a newly created LPGA tournament scheduled to take place from Aug. 29 to Sept. 1, 2024, at TPC Boston in Norton, Massachusetts, United States. The tournament will offer the largest prize fund on the LPGA Tour outside of the majors and tour championship. </p>
<p>“I am thrilled to join the FM Global team. We share a belief in hard work, resilience and striving for excellence,” said Khang. “We both understand the importance of evaluating and reducing risk—and quickly rebounding from adversity—whether it’s a natural hazard threatening a business or community or a hazard on the golf course that could disrupt my game.” </p>
<p>Khang, 26, grew up in Rockland, Massachusetts, just 60 miles (95 kilometres) from FM Global’s Rhode Island headquarters. Since joining the LPGA Tour in 2016, Khang has secured 38 career top 10 finishes, earning international recognition. She achieved her first LPGA Tour victory at the 2023 CPKC Women’s Open in Canada. In January, she finished third in Florida’s LPGA Drive On Championship. </p>
<p>"We could not think of a better partner to help us bring women’s professional golf back to New England,” said Malcolm Roberts, president and chief executive officer of FM Global. “Megan brings a deep commitment to excellence and hard work both on and off the golf course, and we look forward to working together to raise awareness of our shared values and leverage our partnership to give back to our communities.” </p>
<p>As part of the sponsorship, Khang will display FM Global’s logo on her apparel and make various appearances with the company throughout the year. Khang is expected to compete at the 2024 FM Global Championship later this year. </p>
<p>The 2024 FM Global Championship marks the LPGA Tour’s return to New England for the first time since the 2004 U.S. Women’s Open, held at Orchards Golf Club in South Hadley, Massachusetts, and won by Meg Mallon. The last time the Tour competed in the greater Boston area was 1997, when Liselotte Neumann won the Welch’s Championship at Blue Hill Country Club in Canton. </p>
<p> </p>
]]>FM Global will sponsor top-ranked LPGA golfer and New England native Megan Khang for the 2024 and 2025 seasons.2024-02-11T22:24:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-names-laurel-rudnick-svp-division-manager-of-afm-its-middle-market-insurance-divisionFM Global Names Laurel Rudnick SVP, Division Manager of AFM, its Middle Market Insurance Division2024-03-23T13:02:12.730784+00:00unspecified<![CDATA[<p><strong>MELBOURNE, AUSTRALIA, Dec. 8, 2023 </strong>– Commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a> has appointed Laurel Rudnick senior vice president, division manager for AFM, FM Global’s middle market insurance division. She will begin her new role on Jan. 1, 2024.</p>
<p> </p>
<p>Rudnick most recently served as operations senior vice president, New York operations manager for FM Global. She joined FM Global in 2006 as a field engineer in Los Angeles operations and went on to hold a variety of roles, including account engineer, account manager, group manager account engineering and assistant client service manager. In 2018 she relocated to New York operations as client service manager and moved to her most recent role in 2021.</p>
<p> </p>
<p>“Laurel has excelled at every step in her career at FM Global, and I am excited for her to take on a new global leadership role with AFM,” said Ziad Alex S. Tadmoury, who was recently appointed executive vice president, overseeing AFM and operations for EMEA, Asia Pacific, Canada and specialty industries. Rudnick succeeds Tadmoury as head of AFM. “With her extensive work in engineering, client service and operations, Laurel has the background and experience to help AFM continue to provide a superior experience to our broker partners and shared clients.”</p>
<p> </p>
<p>Rudnick graduated from the University of California, Davis, with a bachelor's degree in mathematics, and California State University, Northridge, with a master’s degree in engineering management.</p>
]]>Rudnick most recently served as operations senior vice president, New York operations manager for FM Global.2023-12-08T02:28:00+00:00https://newsroom.fmglobal.com.au/releases/christine-kocot-mccoy-evp-and-general-counsel-at-ascension-elected-to-fm-global-board-of-directorsChristine Kocot McCoy, EVP and General Counsel at Ascension, Elected to FM Global Board of Directors2024-03-23T13:02:12.766756+00:00unspecified<![CDATA[<p><b><span lang="EN-SG" style="font-family: Arial, sans-serif;"></span></b></p>
<p><strong>MELBOURNE, AUSTRALIA, December 1, 2023</strong> – <a href="https://about.ascension.org/en/about-us/leadership/christine-kocot-mccoy">Christine Kocot McCoy</a>, JD, executive vice president and general counsel of <a href="https://about.ascension.org/">Ascension Health Alliance</a>, one of the United States’ leading non-profit and Catholic health systems, has been elected to the board of directors of commercial property insurer <a href="https://www.fmglobal.com.au/">FM Global</a>. FM Global’s board comprises executives from some of the world’s most sophisticated manufacturing, distribution and service organisations.</p>
<p>McCoy is currently responsible for providing legal counsel to the Ascension organisation, board of directors and executive management team, and leading legal services for Ascension and its subsidiary organisations. She manages affiliation initiatives, supports business development activities and handles outside legal relationships on behalf of Ascension. Earlier, she served as senior vice president of legal services and deputy general counsel.</p>
<p>Before joining Ascension, McCoy was a partner with the law firm Armstrong Teasdale, LLP, focusing on medical malpractice and employment litigation, representing hospitals and physicians in malpractice matters in Missouri and Illinois state courts and federal courts. She also represented management in employment- and labor-related matters before federal and state courts and local agencies in Missouri, Illinois and Washington, D.C.</p>
<p>“Christine brings a wealth of legal and governance expertise to the FM Global board,” said FM Global Board Chairman Thomas A. Lawson. “We welcome Christine to the FM Global family and look forward to the contributions she will make through her knowledge, experience and perspective to the management of our company.”</p>
<p>Other members of FM Global’s board of directors are:</p>
<ul>
<li>Frank T. Connor, executive vice president and chief financial officer, Textron Inc.</li>
<li>Colin Day, chairman, Premier Foods, plc</li>
<li>Frank Dellaquila, retired chief financial officer, Emerson Electric Company</li>
<li>Michel Giannuzzi, chairman, Verallia SA</li>
<li>Glenn R. Landau, president and COO, Corrugated Supplies Company, LLC</li>
<li>Thomas A. Lawson, chairman, Factory Mutual Insurance Company</li>
<li>John A. Luke Jr., retired chairman, WestRock Company</li>
<li>Gracia C. Martore, retired president and CEO, TEGNA Inc.</li>
<li>Christine M. McCarthy, strategic advisor and former senior executive vice president and chief financial officer, The Walt Disney Company</li>
<li>Thomas J. Quinlan III, president and CEO, R.R. Donnelley & Sons Company</li>
<li>Malcolm C. Roberts, president and CEO, Factory Mutual Insurance Company</li>
<li>David T. Walton, president and CEO, Caterpillar Financial Services Corporation</li>
</ul>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
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<p><b><span lang="EN-SG" style="font-family: Arial, sans-serif;"></span></b><em><span lang="EN-US" style="font-size: 10pt; font-family: Arial, sans-serif; color: rgb(91, 103, 112); background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"></span></em><span lang="EN-US" style="font-size: 10pt; font-family: Arial, sans-serif; color: rgb(91, 103, 112); background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><o:p></o:p></span><em><span lang="EN-US" style="font-size: 10pt; font-family: Arial, sans-serif; color: rgb(91, 103, 112); background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"></span></em><span lang="EN-US" style="font-size: 10pt; font-family: Arial, sans-serif; color: rgb(91, 103, 112); background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><o:p></o:p></span></p>
]]>Christine Kocot McCoy brings a wealth of legal and governance expertise to the FM Global board.2023-12-01T01:16:00+00:00https://newsroom.fmglobal.com.au/releases/financial-strength-ratings-affirmed-by-fitch-aa-and-s-p-global-a+Financial Strength Ratings Affirmed by Fitch (‘AA’) and S&P Global (‘A+’)2024-03-23T13:02:12.805747+00:00unspecified<![CDATA[<p><strong>MELBOURNE, AUSTRALIA, November 29, 2023 </strong>– FM Global, one of the world’s largest commercial property insurers and a leader in loss prevention and business continuity, today announced it has been rated AA and A+ by two of the world’s leading rating agencies.</p>
<p><a href="https://www.fitchratings.com/research/insurance/fitch-affirms-fm-global-ifs-ratings-at-aa-27-10-2023">Fitch</a> has affirmed FM Global as AA (very strong) and its rating outlook as stable, reflecting the “long-term underwriting profitability, very strong capitalisation and the competitive advantages derived from the company’s engineering expertise and global presence in specialty commercial property markets, as well as benefits drawn from the company's mutual company status.”</p>
<p>This follows an upward revision of FM Global’s outlook from stable to positive by S&P Global, which affirmed an A+ financial strength rating. The update pointed out “improved results, favourable performance relative to peers and extremely strong capitalisation when considering capacity to absorb extraordinary losses.” According to S&P Global, “The positive outlook also recognises our view of the company's very strong competitive profile, supported by its innovative loss prevention solutions and prominence in the large commercial property market.”</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
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<p align="center"> </p>
]]>FM Global’s ratings and outlook reflect strong capitalisation, its innovative loss prevention solutions and benefits drawn from the company's mutual company status.2023-11-28T23:08:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-names-ziad-alex-s-tadmoury-executive-vice-presidentFM Global Names Ziad Alex S. Tadmoury Executive Vice President2024-03-23T13:02:12.842493+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 249px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Alex Tadmoury 2022" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="249" file_id="6323ac4db3aed325ae0147ef" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20228/6323ac4db3aed325ae0147ef_Alex+Tadmoury+2022/Alex+Tadmoury+2022_mid.jpg" title="" width="249" /></div>
<p><strong>SYDNEY, AUSTRALIA - Nov. 2, 2023 </strong>– Commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a> has appointed Ziad Alex S. Tadmoury executive vice president, overseeing operations for EMEA, Asia Pacific, Canada and specialty industries. He will also have responsibility for AFM, FM Global’s middle market insurance division.</p>
<p>Currently senior vice president, division manager of AFM, Tadmoury will assume his new role on Jan. 1, 2024, reporting to Bret Ahnell, FM Global’s chief operating officer. He will be based in FM Global’s London office. Tadmoury will take over the role from James R. Galloway, who will retire on Dec. 31, 2023, after 37 years of distinguished service with FM Global.</p>
<p>Tadmoury joined FM Global in 1989 as a reinsurance claims analyst and advanced to hold various roles, including manager of assumed reinsurance in Massachusetts; deputy director of FM Global’s construction and international power units, based in London; and operations manager, based in Paris. In 2012, Tadmoury moved to FM Global’s corporate headquarters in Rhode Island, where he held several senior leadership roles, notably heading client service and sales, compliance and Hobbs Brook Real Estate. He assumed the role of Asia Pacific division manager in 2019 and his most recent role as AFM division manager in 2022.</p>
<p>Tadmoury’s experience outside of FM Global includes roles with Hanover Re’s Med Re Services in Athens, Greece. He holds an MBA from St. Louis University and a bachelor’s degree in quantitative business analysis from Indiana University.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
<p> </p>
<p align="center">###</p>
]]>Tadmoury will oversee operations for EMEA, Asia Pacific, Canada and specialty industries, and also be responsible for AFM, FM Global’s middle market insurance division.2023-11-01T21:58:00+00:00https://newsroom.fmglobal.com.au/releases/tpc-boston-to-host-2024-fm-global-championshipTPC Boston to Host 2024 FM Global Championship2024-03-23T13:02:12.879027+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA </strong>- The LPGA Tour and <a href="https://www.fmglobal.com/">FM Global</a> announced today that TPC Boston in Norton, Mass., will host the 2024 FM Global Championship. From Aug. 29 to Sept. 1, the newly created tournament will feature a field of 144 players competing for a $3.5 million purse, the largest prize fund on the LPGA Tour outside of the majors and tour championship.</p>
<p>“Boston is quickly becoming a dynamic home for women’s sports,” said LPGA Commissioner Mollie Marcoux Samaan. “We are thrilled to join this incredible movement, as the famed TPC Boston prepares to host the 2024 FM Global Championship, marking a historic return of the LPGA Tour to New England. With this event, the new National Women’s Soccer League team and the new Professional Women’s Hockey League team, the momentum for women's sports in the Boston area is undeniable. We can’t wait to team up with our newest partner, FM Global, to bring the world’s best female golfers to one of America’s great sports regions. We are truly grateful to FM Global for its commitment to elevating the LPGA and to using our collective platform to inspire, empower and advance young girls and women, on and off the golf course.”</p>
<p>FM Global, one of the world’s largest commercial property insurers, takes a unique preventative approach to helping clients protect their businesses, customers and communities. Through rigorous research and engineering expertise, FM Global forges new standards in loss prevention — and meets them with deep-rooted partnerships and human-to-human understanding. For nearly 200 years, some of the world’s leading organizations have worked with FM Global to build resilience to fire, machinery breakdowns and natural hazards. With offices and experts around the world, FM Global is united in its mission to protect today for a better tomorrow.</p>
<p>“We are proud to partner with the LPGA Tour to support this new, marquee event and bring women’s professional golf back to New England,” said Malcolm Roberts, president and chief executive officer of FM Global. “The FM Global Championship provides a tremendous platform to promote diversity and inclusion on the playing field and in the workplace, raise awareness of FM Global’s unique approach to helping clients protect their businesses and mitigate loss, engage our employees, and drive positive impact in our communities.”</p>
<p>The 2024 competition, which kicks off a five-year partnership between the two organizations, marks FM Global’s first major sports sponsorship. Fenway Sports Management helped secure FM Global’s sponsorship of the championship as part of a commercial alliance with the LPGA formed earlier<br />
this year.</p>
<p>Roberts noted that as part of the sponsorship, FM Global will support programs to enable women and the next generation of students in pursuit of education and careers in science, technology, engineering and mathematics (STEM). </p>
<p><em>Ticket Information: </em><a href="https://lpga.formstack.com/forms/fm_global_championship_waitlist"><em>https://lpga.formstack.com/forms/fm_global_championship_waitlist</em></a></p>
<p><em>Media Assets: </em><a href="https://lpga.box.com/s/mq3exaq51um9t87qidmiw88viypzarq7"><em>https://lpga.box.com/s/mq3exaq51um9t87qidmiw88viypzarq7</em></a></p>
<p>The 2024 FM Global Championship marks the LPGA Tour’s return to New England for the first time since the 2004 U.S. Women’s Open, held at Orchards Golf Club in South Hadley, Mass., and won by Meg Mallon. The last time the Tour competed in the greater Boston area was 1997, when Liselotte Neumann won the Welch’s Championship at Blue Hill Country Club in Canton. Other notable women’s golf events held in Massachusetts include the 1954 and 1984 U.S. Women’s Opens at Salem Country Club in Peabody, the 1967-1968 and 1970-1974 KPMG Women’s PGA Championships at Pleasant Valley Country Club in Sutton, and the 1960 U.S. Women’s Open at Worcester Country Club in Worcester.</p>
<p>“We are proud and excited to welcome the LPGA Tour back to Massachusetts,” said Massachusetts Governor Maura Healey. “Sports play an important role in shaping the lives of women, advancing equity and strengthening our communities. The opportunity to see women perform at the highest levels of the game will bring tremendous excitement and enthusiasm.” -Governor Maura Healey</p>
<p>TPC Boston, located 25 miles south of Boston, opened in 2002 with an original layout by Arnold Palmer, followed by a 2007 redesign by Gil Hanse and Brad Faxon. The course has hosted 17 PGA Tour events, including the Deutsche Bank Championship, the Dell Technologies Championship and the Northern Trust. The 2024 FM Global Championship will be the first professional women’s competition held at TPC Boston.</p>
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<p><strong>About the LPGA</strong><br />
The Ladies Professional Golf Association (LPGA) is the world’s premier women’s professional golf organization. Created in 1950 by 13 pioneering female Founders, the LPGA, whose members now represent over 60 countries, is the longest-standing professional women’s sports organization. Through the LPGA Tour, the Epson Tour, a joint venture with the Ladies European Tour and the LPGA Professionals, the LPGA provides female professionals the opportunity to pursue their dreams in the game of golf at the highest level. In addition to its professional tours and teaching accreditation programs, the LPGA features a fully integrated Foundation, which offers best-in-class programming for female golfers through its junior golf programming and LPGA Amateurs chapters, tournaments and membership. LPGA aims to use its unique platform to inspire, transform and advance opportunities for girls and women, on and off the golf course.</p>
<p>Follow the LPGA online at <a href="http://www.lpga.com/">www.LPGA.com</a> and on its <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=4tNED-2FM8iDZJQyQ53jATUYOb0sR1a-2FRPHUmkjZ9jWWNMRg-2Bbc5PupYnnuXvIx75HgTCu_ZZAVFgFdz4Ps5e8Tkh1cOGvoisn-2BcjgKkPpwT17BjBPVMNM-2F1ljBkghQeN5TD6W1pCTT3EB-2FKw7m3ydlnZFCBm-2FM8STj0xyKeN-2BI-2BEDSer26Kkmmve5xozNE-2FmYeJ8IjcF3NGn8Yvr8QgdkBKd3y33xJccrGcYIeM2Xb3DLjQPHLoyQ3SrE2a4zXxdsPvnOJBQm2pXKVfNXx3TUw3-2FylTqXILF92BJHN7JlLfpO-2BeXGfTcgVZw8Z4CPW-2F3kkabevbhe49M4xUh9AA-2BG1BDoGeDejWQ5Ol3R1qmgRn66y3mPrTPzci0iKfYqSSv7K7h0L9D13Z17s3YdvVmx0OAj8XnLmILRVDT57DegF-2FLKVlc4-3D">mobile apps</a>. Join the social conversation on <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=TeZUXWpUv-2B6TCY38pVLo9jw1V-2Bo5zjnJlDYvuv2Uss-2FInUxdhx3cpu4EYIFNa3ePnv7k_ZZAVFgFdz4Ps5e8Tkh1cOGvoisn-2BcjgKkPpwT17BjBPVMNM-2F1ljBkghQeN5TD6W1pCTT3EB-2FKw7m3ydlnZFCBm-2FM8STj0xyKeN-2BI-2BEDSer26Kkmmve5xozNE-2FmYeJ8IjcF3NGn8Yvr8QgdkBKd3y33xJccrGcYIeM2Xb3DLjQPHLoyQ3SrE2a4zXxdsPvnOJES5RDVtQQok8Hp-2FmDd0XYvcsvo71pP7fWA3G8XGdbodyVLCbUNU4UbHCPIK-2FliPus6euRDVwuwxvuNpKRl4P84ju44iO3ukQ6pjzo-2FQLRcdzpLoFpRKzFYm7MfNb-2BhqBEkOl1K5XQ6WG1I2VFxUHMaChTtl7XnI5ntYCrXoVemE-3D">Facebook</a>, <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=TeZUXWpUv-2B6TCY38pVLo9q4eqF-2FTGW9MUBbPgjBAiw5RHwkDsWGCoLbukaAkmS8wyuZy_ZZAVFgFdz4Ps5e8Tkh1cOGvoisn-2BcjgKkPpwT17BjBPVMNM-2F1ljBkghQeN5TD6W1pCTT3EB-2FKw7m3ydlnZFCBm-2FM8STj0xyKeN-2BI-2BEDSer26Kkmmve5xozNE-2FmYeJ8IjcF3NGn8Yvr8QgdkBKd3y33xJccrGcYIeM2Xb3DLjQPHLoyQ3SrE2a4zXxdsPvnOJ7ktFIiYs-2B4x-2B5qPf-2FEgY80kk5IMSB6bJS6zF6NItTzjmu06EkSrCSrxUnKdsFPH3Xsx-2BKnkjtkYPXl5rccr9B4SZQ1RbIF4qVZFHoHtYG0ix5C-2FaHsWDk-2ByHx8gjhqHHsnb4gTQQWtf51U-2BJCPDQn8SWocXqCtBToErxEr-2BOdUI-3D">Twitter</a>, <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=TeZUXWpUv-2B6TCY38pVLo9qOrmoYB1j0Snk5U43JMT06Ksh8tzK3oTJkawHe7flYgsf83_ZZAVFgFdz4Ps5e8Tkh1cOGvoisn-2BcjgKkPpwT17BjBPVMNM-2F1ljBkghQeN5TD6W1pCTT3EB-2FKw7m3ydlnZFCBm-2FM8STj0xyKeN-2BI-2BEDSer26Kkmmve5xozNE-2FmYeJ8IjcF3NGn8Yvr8QgdkBKd3y33xJccrGcYIeM2Xb3DLjQPHLoyQ3SrE2a4zXxdsPvnOJNm2gE-2F2GZgPnr4uF-2FPpufNyYqyhO835fgMpEuQPXhX1USQPhAvD42KXr4arqcEPHSAh5QIZzejIQ01eHtvuQ0INIuO6e8ZImoLDNwEqHnQUL6J4A8N-2BnsqLM5aUM3StWSsva4B9D8VIQC2cNyO3qYy-2Br89V1yDPfIfLIOB45emQ-3D">Instagram</a> and <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=TeZUXWpUv-2B6TCY38pVLo9tHp7PKc-2BrGcBnOP6-2F9vNOS-2BCL8CvrzFOk4qkL-2F-2FtyRIJtwT_ZZAVFgFdz4Ps5e8Tkh1cOGvoisn-2BcjgKkPpwT17BjBPVMNM-2F1ljBkghQeN5TD6W1pCTT3EB-2FKw7m3ydlnZFCBm-2FM8STj0xyKeN-2BI-2BEDSer26Kkmmve5xozNE-2FmYeJ8IjcF3NGn8Yvr8QgdkBKd3y33xJccrGcYIeM2Xb3DLjQPHLoyQ3SrE2a4zXxdsPvnOJQBcRgpcNlT-2BvW9LBqInVlGLwztBBW-2Fj1u7-2BVpVDCNwiqHyEEZ-2FTB1zy6dqxI-2Btw444QhHuQcFUIuC0kjjasnpiBriEDt8LHLlKUXfj16NzkZwZr8KJ9EjeWVm-2FbaRgYfTGmgcdPMq1wGRfWo-2FKNIIqDAFpyni8zXumVbejlNt-2BY-3D">YouTube</a>.</p>
<p><strong>About the LPGA Tour</strong><br />
The LPGA Tour is the world’s leading competitive destination for the best female professional golfers in the world. The Tour hosts more than 30 annual events across 12 countries and regions for over 200 Active Players, awarding total prize funds exceeding $100 million and reaching television audiences in more than 220 countries. Follow the LPGA Tour on its U.S. television home, Golf Channel.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
<p><strong>Media Contacts</strong></p>
<p>LPGA: Christina Lance, <a href="mailto:christina.lance@lpga.com">christina.lance@lpga.com</a></p>
<p>FM Global: Rob Julavits, <a href="mailto:robert.julavits@fmglobal.com">robert.julavits@fmglobal.com</a></p>
]]>FM Global to sponsor a historic return of the LPGA Tour to New England.2023-10-26T22:26:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-expands-presence-in-australia-with-new-western-australia-officeFM Global Expands Presence in Australia with New Western Australia Office 2024-03-23T13:02:12.911308+00:00unspecified<![CDATA[<div class="OutlineElement Ltr SCXW94514088 BCX8">
<p class="Paragraph SCXW94514088 BCX8" paraeid="{a280d773-ec18-42dd-966c-debba8d2dfea}{171}" paraid="1494261204"><span class="TextRun SCXW94514088 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW94514088 BCX8"></span></span><span class="TextRun SCXW94514088 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW94514088 BCX8"></span></span><span class="EOP SCXW94514088 BCX8" data-ccp-props="{"201341983":0,"335551550":2,"335551620":2,"335559739":160,"335559740":259}"></span><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"><strong><span class="NormalTextRun SCXW63824631 BCX8">PERTH</span><span class="NormalTextRun SCXW63824631 BCX8">, </span><span class="NormalTextRun SCXW63824631 BCX8">AUSTRALIA </span></strong></span><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB">–</span><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"> </span><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">Commercial property insurer</span></span><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"> </span><a class="Hyperlink SCXW63824631 BCX8" href="http://www.fmglobal.com.au/" rel="noreferrer noopener" target="_blank"><span class="TextRun Underlined SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8" data-ccp-charstyle="Hyperlink">FM Global</span></span></a><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB"> </span><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">today a</span><span class="NormalTextRun SCXW63824631 BCX8">nnounced</span><span class="NormalTextRun SCXW63824631 BCX8"> that it</span><span class="NormalTextRun SCXW63824631 BCX8"> has</span></span><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8"> </span></span><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">opened an office in Perth to provide local services to its mutual client owners and broker partners in Western Australia</span><span class="NormalTextRun SCXW63824631 BCX8">.</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{a280d773-ec18-42dd-966c-debba8d2dfea}{216}" paraid="1837349679"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">The office — FM Global’s third Australian office and first on the West Coast — is located at St Georges Terrace and will help cater to the unique needs of FM Global’s clients in the region. </span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{a280d773-ec18-42dd-966c-debba8d2dfea}{222}" paraid="1907420381"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">FM Global has a long history of building partnerships</span><span class="NormalTextRun SCXW63824631 BCX8">.</span><span class="NormalTextRun SCXW63824631 BCX8"> </span><span class="NormalTextRun SCXW63824631 BCX8">L</span><span class="NormalTextRun SCXW63824631 BCX8">ast year</span><span class="NormalTextRun SCXW63824631 BCX8">, FM Global</span><span class="NormalTextRun SCXW63824631 BCX8"> celebrated 50 years since the global business, headquartered in the United States, came to Australia to service existing clients who had opened operations in the country. </span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{a280d773-ec18-42dd-966c-debba8d2dfea}{240}" paraid="729530014"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">Andrew Stafford, Operations Senior Vice President Australia and New Zealand, said: “The expansion into </span><span class="NormalTextRun SCXW63824631 BCX8">Western Australia</span><span class="NormalTextRun SCXW63824631 BCX8"> is a significant milestone for FM Global, reinforcing our position as a global leader in commercial property insurance and risk management and strengthening our relationships with clients, brokers and partners.</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{a280d773-ec18-42dd-966c-debba8d2dfea}{250}" paraid="1162637124"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">“We’ve always believed in the power of listening to our clients, and this expansion directly responds to their need for closer contact and support in the region. We are here to help businesses manage risk more effectively and empower them to build resilience.”</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{1}" paraid="542466705"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">The new office and two new senior hires in Perth will </span><span class="NormalTextRun SCXW63824631 BCX8">bolster</span><span class="NormalTextRun SCXW63824631 BCX8"> FM Global’s consultant field engineers, who have been based in the region for more than two decades, providing valuable local engineering support.</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{11}" paraid="112395906"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">Anthony Brown has been appointed Account Manager, and Scott Chapman has been appointed Account Engineer to support clients in understanding their exposures. </span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{17}" paraid="1115210560"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">Mr Brown is a seasoned professional with extensive experience in the insurance industry, most recently serving as a senior loss adjustor at Charles Taylor Adjusting. He previously worked in the civil construction and mining industries in Australia, the United Kingdom and the United Arab Emirates.</span><span class="NormalTextRun SCXW63824631 BCX8"> </span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{25}" paraid="594978023"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">Mr Chapman has partnered closely with FM Global clients across sectors. Based in </span><span class="NormalTextRun SCXW63824631 BCX8">Western Australia</span><span class="NormalTextRun SCXW63824631 BCX8"> for the past five years, he brings a wealth of experience and understanding of the local market. </span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{35}" paraid="2088355185"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-GB" xml:lang="EN-GB"><span class="NormalTextRun SCXW63824631 BCX8">FM Global’s expertise is backed by science from nearly 200 years of property insurance experience. The company comprises a team of over 1,200 engineers who use research conducted exclusively for property risk to build resilience and deliver the best solutions to clients.</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{47}" paraid="623852514"><strong><span class="TextRun SCXW63824631 BCX8" data-contrast="auto" lang="EN-GB" xml:lang="EN-GB">About FM Global</span><span class="LineBreakBlob BlobObject DragDrop SCXW63824631 BCX8"><span class="SCXW63824631 BCX8"> </span></span></strong><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-US" xml:lang="EN-US"><span class="NormalTextRun SCXW63824631 BCX8"></span></span></p>
<p class="Paragraph SCXW63824631 BCX8" paraeid="{cbf643f4-c4d3-4700-a885-66d1c5488471}{47}" paraid="623852514"><span class="TextRun Highlight SCXW63824631 BCX8" data-contrast="none" lang="EN-US" xml:lang="EN-US"><span class="NormalTextRun SCXW63824631 BCX8">Established nearly two centuries ago, </span><span class="NormalTextRun SCXW63824631 BCX8">and present in </span><span class="NormalTextRun SCXW63824631 BCX8">the Asia Pacific region</span><span class="NormalTextRun SCXW63824631 BCX8"> for 50 years, </span><span class="NormalTextRun SCXW63824631 BCX8">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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest </span><span class="NormalTextRun SCXW63824631 BCX8">organi</span><span class="NormalTextRun SCXW63824631 BCX8">s</span><span class="NormalTextRun SCXW63824631 BCX8">ations</span><span class="NormalTextRun SCXW63824631 BCX8">, including one of </span><span class="NormalTextRun SCXW63824631 BCX8">every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</span></span><span class="EOP SCXW63824631 BCX8" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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]]>Commercial property insurer FM Global today announced that it has opened an office in Perth to provide local services to its mutual client owners and broker partners in Western Australia.2023-09-28T23:59:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-announces-us-350-million-resilience-credit-to-support-client-investment-in-climate-resilience-6895407FM Global announces US$350 million ‘resilience credit’ to support client investment in climate resilience2024-03-23T13:02:12.943230+00:00unspecified<![CDATA[<p><strong>Sydney, Australia, September 13, 2023</strong> – Commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a><a href="http://www.fmglobal.com.au/" rel="" target="_blank" title="FM Global"> </a>today announced its second consecutive resilience credit to support client investment in climate resilience solutions. The resilience credit, collectively worth approximately US$350 million, will be shared among FM Global’s clients, providing them with additional resources to guard against extreme weather hazards such as wind, flood and wildfire.</p>
<p>The new allocation builds on the success of FM Global’s first-ever resilience credit last year<font color="#0782c1">. </font>Following allocation of the 2022 resilience credit of US$300 million, FM Global clients accelerated implementation of natural hazards-related recommendations, driving a potential reduction in economic impact of up to US$20 billion Over the last year, FM Global clients leveraged the resilience credit to invest in a variety of risk mitigation efforts, including flood protection projects such as levees, walls or specialised doors; fire breaks to shield against wildfires; and reinforced roofs for extreme snow.</p>
<p>“Investing in resilience is more important than ever,” said Malcolm Roberts, president and chief executive officer of FM Global, noting that climate-related perils continue to impact FM Global’s clients and drive the current insurance market.</p>
<p>“With the increasing frequency of disruptive events around the globe, our clients need the tools and resources to invest in risk mitigation solutions and support business continuity,” said Roberts. “The resilience credit enables our mutual owners to protect against climate change risk today, invest in tomorrow, and make a positive impact on their customers, colleagues and communities.”</p>
<p>United Therapeutics leveraged the 2022 resilience credit to strengthen flood mitigation at its Manchester, New Hampshire, research and development facility. Installation of additional mitigation devices will be completed by the end of 2023. “We share FM Global’s belief that the majority of all loss is preventable,” said Christina Donnelly, vice president of enterprise risk management for United Therapeutics. “We are proud to partner with FM Global to continuously improve our organisational resilience.”</p>
<p>Adient, an automotive seating company based in Plymouth, Michigan, leveraged the 2022 resilience credit to support several key climate risk mitigation projects, including building and replacing flood barriers and reinforcing roofs and walls to protect against wind.</p>
<p>“The resilience credit is a very good initiative and one more factor that differentiates FM Global in the property insurance world,” said Rob Milligan, vice president of risk management at Adient. “The additional resilience credit this year will continue to support climate risk projects and help us prioritise our risk mitigation efforts.”</p>
<p>The resilience credit will be applied as a 5% premium offset against eligible FM Global policies with renewals or anniversaries between Oct. 1, 2023, and Sept. 30, 2024, and will be calculated based on eligible premium in effect 90 days prior to the renewal or anniversary date of the prior policy.</p>
<p>The new resilience credit combines with a <a href="https://www.fmglobal.com.au/products-and-services/products/climate" rel="" target="_blank" title="suite of climate resilience products">suite of climate resilience products</a> launched by FM Global in the last year, confirming its position as a leader in climate risk. The suite of products includes the Climate Change Impact Report, which helps clients identify, understand and avoid future climate-related risk as far in the future as 2050; the Climate Risk Report; and the Climate Reporting Aid.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The new allocation builds on the success of FM Global’s first-ever resilience credit last year.2023-09-12T22:00:00+00:00https://newsroom.fmglobal.com.au/releases/new-2023-fm-global-resilience-index-fuels-business-continuity-and-sustainable-growthNew 2023 FM Global Resilience Index fuels business continuity and sustainable growth 2024-03-23T13:02:12.978517+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA, JUNE 14, 2023 </strong>– Commercial property insurer <a href="https://www.fmglobal.com.au/">FM Global</a> today revealed the <a href="https://www.fmglobal.com.au/research-and-resources/tools-and-resources/resilienceindex">2023 FM Global Resilience Index</a>, an online, interactive tool that supports strategic decision-making for global businesses. The index ranks countries on 15 measures of economic, risk quality and supply chain resilience.</p>
<p>The FM Global Resilence Index is considered an essential tool for site selection, supply chain design and market targeting amid critical business risks like climate change, economic volatility and geopolitical tensions. Several global organisations have found the index so valuable they have integrated it into their site-selection/enterprise risk management software for strategic decision-making, demonstrating the power of valuable data like that found in the Resilience Index.</p>
<p>“Objective data should support most major business decisions, and in the index we’ve aggregated salient data to help companies build resilience for decades to come,” said <a href="https://www.linkedin.com/in/pentti-tofte-556485/" target="_blank"><strong>Pentti Tofte</strong></a>, staff senior vice president, data analytics, FM Global. “When potential disruptions loom, a resilient company can avoid losses of revenue, market share and growth – losses that may have been unrecoverable.”</p>
<p>“Every country is unique when it comes to it's risk profile and Australia is no different,” says Andrew Stafford, senior vice president, operations manager at FM Global Australia.“ With leaders in the region becoming increasingly concerned of climate-related business disruptions, the FM Global Resilience Index can play a critical role in assessing and strengthening the resilience of Australian businesses - many of which are key contributors both to the community and economy.”</p>
<p><strong>Data drives decisions</strong></p>
<p>FM Global’s data, both proprietary and aggregated from respected third parties, places these 10 countries/territories atop this year’s Resilience Index:</p>
<ol>
<li>Denmark</li>
<li>Singapore</li>
<li>Luxembourg</li>
<li>Germany</li>
<li>Switzerland</li>
<li>United States 3 (Central region)</li>
<li>United states 1 (East)</li>
<li>Sweden</li>
<li>Finland</li>
<li>Austria</li>
</ol>
<p> 19. Australia</p>
<p>The bottom three are:</p>
<ol>
<li value="128">Ethiopia</li>
<li value="129">Venezuela</li>
<li value="130">Haiti</li>
</ol>
<p>Australia moves one spot from 20 to 19 in this years FM Global Resilience Index, making it the second highest overall for risk in the Asia Pacific region, with Singapore taking the top spot in the region.</p>
<p>The biggest riser was the Dominican Republic, which rose from 99<sup>th</sup> to 95<sup>th</sup> based on a higher climate risk quality ranking in this year’s index. The biggest faller was Lebanon, which dropped from 101<sup>st</sup> to 106<sup>th</sup>, due in part to a lower ranking in health care spending.</p>
<p><strong>Facts support good decisions</strong></p>
<p>The index provides relevant data around some of the most pivotal topics that companies face today.</p>
<p><strong>Climate change</strong> is one of them. The index uses facts about each country’s <em>climate risk exposure</em> and <em>climate risk quality</em> to help companies prosper. </p>
<p>The <strong>global economy</strong> is another concern, and more<em> productive</em> countries (those with higher GDP per capita) generally have more resilient business environments. <em>Health expenditure per capita, energy </em><em>intensity</em> and high <em>urbanization rates</em> also affect resilience. Data on all of these economic drivers is captured in the index to keep companies growing strong.</p>
<p>As<strong> geopolitics</strong> continue to shift, companies can consult the index’s <em>political risk</em> rankings to enhance stabiilty for future growth.</p>
<p>“Australia as a whole ranks relatively well when it comes to our preparadness against climate risks but at the same time, we rank relatively poorly for climate risk exposure,“ said Mr Stafford</p>
<p>“We need to be aware of these risks and the potential damage they can cause. The FM Global Resilience Index can help business leaders understand local vulnerabilities, evaluate risk and take informed and actionable decisions so they can continue to operate even in the most challenging times.”</p>
<p>Australia ranks 107<sup>th</sup> on the list for <em>climate exposure</em> – the percentage of a country's area devoted to economic activities that is exposed to wind or flood. At the same time, Australia also ranks 15th on the <em>climate risk quality</em> measure – the quality and enforcement of a country’s building code with respect to wind-resistant design (80 per cent), combined with the level of wind and flood risk improvement achieved, given the inherent wind and flood risks in a country (20 per cent).</p>
<p><strong>Rankings</strong></p>
<p>FM Global has chosen to make the <a href="https://www.fmglobal.com.au/research-and-resources/tools-and-resources/resilienceindex">Resilience Index</a> freely accessible to any individual or company seeking to improve resilience, reduce risk and achieve their environmental, social and governance (ESG) goals. It’s part of an exclusive <a href="https://www.fmglobal.com.au/products-and-services/products/climate">suite of products</a> designed to support FM Global clients in a world of changing climate. The index consistently attracts thousands of global business leaders representing numerous sectors, including chemicals, education, forest products, governments, healthcare, mining, molten materials, pharma/biotech, power generation and semiconductors.</p>
<p><strong>Explore the index:</strong></p>
<ul>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17062">Executive Summary</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17095">Frequently Asked Questions</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=W00234">Methodology</a></li>
</ul>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for more than 50 years, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The definitive ranking of countries’ business environments helps companies select new sites, create stronger supply chains, and target new markets.2023-06-13T23:00:00+00:00https://newsroom.fmglobal.com.au/releases/nsw-emergency-services-levy-6892664NSW Emergency Services Levy2024-03-23T13:02:13.011093+00:00unspecified<![CDATA[<p>The ESL provides funding for the NSW fire and emergency services which is currently collected through a levy on insurance policies. </p>
<p>FM Global has estimated that to meet the funding obligations to the fire and emergency services a rate of 26% will need to be applied to all assessable NSW premiums effective 30 JUN 2023. </p>
<p>The rate will be reviewed periodically and may vary in future in response to revised Brigade budget expectations, revised industry insurance premium pool estimates, and other factors arising from the NSW government’s decision to reinstate the insurer ESL.</p>
]]>FM Global has estimated that to meet the funding obligations to the fire and emergency services a rate of 26% will need to be applied to all assessable NSW premiums effective 30 JUN 2023.2023-05-24T02:46:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-launches-climate-change-product-to-predict-future-risksFM Global launches climate change product to predict future risks 2024-03-23T13:02:13.043956+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA, May 3, 2023 </strong>– Commercial property insurer <a href="http://www.fmglobal.com.au/">FM Global</a> has launched its <a href="https://www.fmglobal.com.au/products-and-services/products/climate">Climate Change Impact Report</a>, a proprietary tool to help its clients identify, understand and avoid risks as far in the future as 2050.</p>
<p>In response to growing concern over the short and long-term impact of climate change, the Climate Change Impact Report combines client-specific engineering data gained on location with the latest climate science and modeling.</p>
<p>It will allow FM Global to provide clients with actionable insights to stay resilient in the near and distant future, prioritise risk improvement investments, and allow them to keep serving their clients, partners and communities in the face of extreme weather conditions.</p>
<p>The Climate Change Impact Report identifies client-specific locations with the largest potential climate change impact due to risk from extreme rain, strong winds, heat waves, droughts and rising sea levels.</p>
<p>The reports cover two-time spans, short term up until 2030 and long term to 2050. This unparalleled and unique insight confirms FM Global as a leader in loss prevention and business continuity and as an expert in mitigating climate-related risk.</p>
<p>“Climate change is clearly a major factor in decisions being made by business, organisations and communities about their future,” said Malcolm Roberts, president and chief executive officer. “With our engineering expertise, cutting-edge research and access to high-level data, we have a responsibility to help our partners through this rapidly evolving landscape. The Climate Change Impact Report arms our clients with the insights needed to help them protect their facilities against future risks.</p>
<p>“From hurricanes to rising sea levels, our clients need to be prepared and take steps to build resilience, taking action now for what the future might bring. We believe this market-leading product will help businesses proactively plan for and defend against climate-related events. Loss and disruption are not inevitable. We are motivated by the ripple effect of climate resilience, which means businesses keep running, everyday services are provided and communities stay strong.”</p>
<p>Andrew Stafford, Operations Senior Vice President Australia and New Zealand said, “the Climate Change Impact Report will be a powerful tool for businesses operating in Australia, where climate change is expected to have a significant impact on infrastructure and supply chains.</p>
<p>“Climate change is one of the most significant challenges facing our Australian and New Zealand clients. That's why we're committed to developing innovative solutions that help them better understand their climate risk and gives them actionable insights, so they can continue to do business and thrive,” he said.</p>
<p>This exciting new tool is part of a suite of products designed to support FM Global clients in a world of changing climate. It complements the Climate Risk Report, which provides insight into current risks, the Climate Reporting Aid, which assists climate-related financial disclosures, and a first-of-its kind resilience credit that provides US$300 million to help clients invest in climate resilience solutions. This, along with the recently announced US$800 million membership credit, amounts to over US$1 billion that FM Global is returning to their policyholders.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The Climate Change Impact Report is a proprietary tool to help the commercial property insurer’s clients identify, understand and avoid risks as far in the future as 2050.2023-05-03T01:00:00+00:00https://newsroom.fmglobal.com.au/releases/record-us-800-million-membership-credit-for-fm-globals-client-ownersRecord US$800 million membership credit for FM Global’s client-owners2024-03-23T13:02:13.084261+00:00unspecified<![CDATA[<p>Commercial property insurer <a href="https://www.fmglobal.com.au/">FM Global</a> has announced its largest ever membership credit of approximately US$800 million on the back of ‘outstanding’ financial results, as detailed in its 2022 <a href="https://fmglobal.com/annual-report/2022.">Annual Report</a>.</p>
<p>“Through increased risk mitigation and fewer losses, we are creating a circle of resilience,” said Malcolm Roberts, president and chief executive officer. “Our leading research, data and engineering expertise provides our clients with actionable risk mitigation recommendations. This allows our client-owners to be proactive and take the right steps to protect their business and purpose. These partnerships are the reason behind our outstanding financial performance and these results represent one of the best years in the company’s history.</p>
<p>“Our financial strength and mutual business model mean our clients share in our success. The more we prevent loss, the more we can give back to our client-owners. This is demonstrated in another record membership credit. In such a volatile market, the year ahead will be a challenge once again, but we face it from a position of strength and look forward with more optimism than ever before.”</p>
<p>Among the innovative solutions offered to clients in 2022 was a first-of-its kind resilience credit that provided an additional US$300 million to help clients invest in climate resilience solutions. According to FM Global data, the credit has the potential to help organisations reduce total loss expectancies related to wind, flood, and wildfire exposure by more than US$120 billion.</p>
<p>The membership credit an eligible policyholder will receive will be based on its premium and tenure and applied as an offset against premium at a client’s renewal or anniversary date. FM Global clients holding policies for:</p>
<ul>
<li>fewer than 5 consecutive years will be eligible for a 5% credit.</li>
<li>at least 5 consecutive years but fewer than 20 will be eligible for a 10% credit.</li>
<li>at least 20 consecutive years will be eligible for a 15% credit.</li>
</ul>
<p>A detailed overview of the 2022 membership credit plan (including eligibility, timing and basis for calculations) is available <a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=1097062820">here</a>. FM Global has now returned more than US$5 billion in credits since 2001.</p>
<p><strong>About FM Global</strong></p>
<div>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
</div>
]]>Commercial property insurer’s largest ever membership credit, on the back of ‘outstanding’ financial results, shows ‘circle of resilience’.2023-04-28T14:01:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-announces-six-senior-leadership-appointmentsFM Global announces six senior leadership appointments2024-03-23T13:02:13.116861+00:00unspecified<![CDATA[<p>SYDNEY, AUSTRALIA—<a href="https://www.fmglobal.com/" target="_blank">FM Global</a> has announced six senior leadership appointments, aligning areas of expertise to ensure a continued growth journey whilst maintaining competitive advantage.</p>
<p><a href="https://www.linkedin.com/in/thierry-masurel-77238660/">Thierry Masurel</a> has been appointed as senior vice president, division manager, enterprise services, a role in which Masurel will leverage his knowledge of FM Global’s business processes, technology and data to lead enterprise services.</p>
<p>Masurel joined FM Global in 1992 and has held a variety of engineering and client service roles, including the role of operations vice president, Paris operations manager and most recently, operations senior vice president, global insurance and program services. Masurel holds a master’s degree in aerospace engineering from École Supérieure des Techniques Aéronautiques et de Construction Automobile. He will continue to be based in Johnston, Rhode Island, U.S, and will report to Bret N. Ahnell, chief operating officer.</p>
<p><a href="https://www.linkedin.com/in/michelle-braun-b521558/">Michelle Braun</a>, has been appointed as operations senior vice president, global insurance and program services and will assume responsibility for global insurance and program services in the enterprise services division, including all insurance product delivery services, operations compliance, global services and translation and brand assurance. Braun will report to Thierry Masurel, senior vice president, division manager, enterprise services and will be based in Johnston, Rhode Island, U.S.</p>
<p>Having joined FM Global in 2010 as a business risk consultant, Braun has served in various roles, including account manager; area manager, AFM; branch manager; client service manager; and AFM regional manager. Prior to joining FM Global, Braun held roles in risk management at First Marblehead Education Resources and Boston Consulting Group. She holds a bachelor’s in economics from the University of Vermont.</p>
<p><a href="https://www.linkedin.com/in/sonserae-toles-7867934/">Sonserae Toles</a> has been named staff senior vice president, culture and employee experience. Toles will continue to partner with senior management to enhance an engaged culture that works to solicit and consider the diverse perspectives, talents and contributions of all employees. She will report to Deanna Fidler, executive vice president, strategy and technology and will be based in Johnston, Rhode Island, U.S.</p>
<p>Toles joined FM Global in 2019 as vice president of the diversity, equity and inclusion center of excellence to develop a comprehensive approach linking FM Global’s commitment to diversity with the business strategy. Prior to joining FM Global, Toles held several key leadership roles in human resources, to include diversity, equity and inclusion as well as talent management for T. Rowe Price, Siemens, General Electric and Booz Allen Hamilton.</p>
<p><a href="https://www.linkedin.com/in/lou-gritzo-a4bb82b/">Louis Gritzo</a> has been named as staff senior vice president, chief science officer, responsible for overseeing the future direction as well as leading the strategic advancement of science and research. Gritzo will be integral to the development and implementation of FM Global's research capabilities in Europe, Asia and the transformation of the existing campus in Norwood. Gritzo will be based in Norwood, Massachusetts, U.S., and will report to Andrew Bryson, senior vice president, engineering and research.</p>
<p>Having joined FM Global in 2005 as a research manager, Gritzo has served in several research and leadership roles, including vice president, research manager, international codes and standards. He currently leads applied engineering and natural science research conducted by FM Global’s scientists, engineers and technologists. Gritzo has a Bachelor of Science, and Ph.D., in mechanical engineering and applied mathematics from Texas Tech University.</p>
<p>The following appointments have been made to strengthen operational efficiencies to enable FM Global to continue to deliver market leading solutions to clients in a rapidly evolving market. Both appointments will report to Jim O’Brien, senior vice president, Canada and specialty industries division manager.</p>
<p><a href="https://www.linkedin.com/in/doug-patterson-8086a319/">Douglas Patterson</a> has been appointed to the newly created role of operations senior vice president, head of renewables, and will serve to align the development, coordination, and execution of FM Global’s renewable energy strategy. Patterson will provide the strategic guidance to ensure that FM Global is positioned to achieve market leadership along with long-term, profitable growth, and inspires marketplace loyalty in this important and rapidly evolving space. He will be based in Frisco, Texas, U.S.</p>
<p>Having joined FM Global in 1987 as a loss prevention consultant, Patterson has served in several roles including, and most recently, operations senior vice president for Dallas operations. Patterson holds a Bachelor of Science in mechanical engineering from the University of Texas at Arlington.</p>
<p><a href="https://www.linkedin.com/in/david-thompson-102a0613/?originalSubdomain=ca">Dave Thompson</a> has been appointed as operations senior vice president, specialty industries market development and will be based in Toronto, Canada. In this new role, Thompson will provide leadership, support, and strategic guidance to ensure the continued competitiveness of FM Global’s specialty industries and their expansion beyond Canada. Specialty industries include forest products (pulp and paper), power generation, chemical, mining, and molten materials, semiconductor manufacturing, and digital data centers.</p>
<p>Since joining FM Global in 1985, Thompson has, amongst other roles, served as a, field engineer, account manager, branch manager, and most recently, operations senior vice president, operations manager, Canada. He holds a Bachelor of Applied Science in mechanical engineering from the University of British Columbia.</p>
<p align="center">###</p>
<p><br />
<strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in Australia for 50 years, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
<p align="center"> </p>
]]>The appointments bolster research and innovation, client services and people and culture, to ensure a continued growth journey whilst maintaining competitive advantage.2023-03-28T22:54:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-celebrates-insurance-branch-license-in-koreaFM Global celebrates insurance branch license in Korea 2024-03-23T13:02:13.164933+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA, February 14, 2023</strong> – One of the world’s largest commercial property insurers is increasing its efforts to support the resilience of Korea’s commercial property, manufacturing, and infrastructure owners after being awarded a license to establish an insurance branch. This builds on FM Global’s 25 years’ experience in Korea, where it has and will continue to support global clients’ assets working alongside Korean insurance partners.</p>
<p>With its new license, FM Global will continue the expansion of the company’s global network into one of Asia’s most important growth markets.</p>
<p>“As a global economic force with a strong manufacturing base, Korea presents an evolving insurance and loss prevention need that FM Global is uniquely placed to fulfil. In addition to continuing to serve our global clients in Korea, we are actively seeking to work with Korean clients with a similar philosophy towards risk and loss prevention and contribute towards a growing loss prevention culture,” said Shim Yong-Ju, FM Global’s Branch Manager in Seoul. He is leading this expansion in Korea supported by a growing team of underwriters.</p>
<p>FM Global will continue to work in partnership with its existing partners as a licensed reinsurer in Korea as well as create value for new business partners and clients. Together with new and existing partners, FM Global aims to further build upon and promote a focus on business resilience in Korea. “This is an important milestone for FM Global in the region at a time when the need to build and maintain resilience against climate, cyber and supply chain risk has never been as vital,” said James Thompson, senior vice president, Asia Pacific division manager, FM Global. “We are delighted to deepen our commitment to Korea and build on the strong partnerships we have forged over more than two decades,” he added.</p>
<p><strong>About FM Global </strong></p>
<p>Established nearly two centuries ago, and present in Australia for 50 years, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>Contributing to Korea’s growing focus on business resilience is a key motivator in the expansion of the company’s global network into one of Asia’s most important growth markets.2023-02-14T03:00:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-financial-strength-ratings-affirmed-by-fitch-aa-s-p-global-a+FM Global’s financial strength ratings affirmed by Fitch (‘AA’); S&P Global (‘A+’)2024-03-23T13:02:13.205977+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA, January 27, 2023</strong> – Commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a>, a leader in loss prevention and business continuity, has received a ‘AA’ (Very Strong) financial strength rating affirmation from <a href="https://www.fitchratings.com/research/insurance/fitch-affirms-fm-global-ifs-ratings-at-aa-04-11-2022">Fitch Ratings</a> and an ‘A+’ financial strength rating affirmation from <a href="http://www.spratings.com/" target="_blank">S&P Global</a> Ratings —both with a “stable” outlook. The ratings also apply to FM Global’s affiliates including FM Insurance Company Limited, FM Insurance Europe S.A. and middle market insurer <a href="http://www.affiliatedfm.com/">AFM</a>.</p>
<p>Fitch’s ratings affirmation “reflects FM Global's long-term underwriting profitability, very strong capitalisation and competitive advantages derived from the company's engineering expertise and global presence in specialty commercial property insurance markets, as well as benefits drawn from the company's mutual company status.”</p>
<p>S&P declares FM Global the “world's largest commercial property insurer and [a] formidable leader in specialised engineering-based property underwriting and research.” It spotlights the company’s “highly valued customised loss prevention solutions complementing large commercial property products” and “strong long-term underwriting performance.” Moreover, FM Global’s “highly regarded reputation for engineering expertise in assessing client risks to prevent and mitigate losses gives it a significant commercial advantage over competitors, as shown by its high client retention and generally favorable underwriting performance.”</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in Australia for half a century, 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 policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The ratings reflect the commercial property insurer’s strong capitalisation and underwriting profitability derived from its risk engineering leadership.2023-01-24T20:33:00+00:00https://newsroom.fmglobal.com.au/releases/senior-evp-and-cfo-of-emerson-frank-dellaquila-elected-to-fm-global-board-of-directorsSenior EVP and CFO of Emerson, Frank Dellaquila, elected to FM Global board of directors 2024-03-23T13:02:13.244902+00:00unspecified<![CDATA[<p> </p>
<div class="textImage textImage-left" style="float: left; width: 204px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="left" alt="Picture1" author="" class="widget-image" custom_size="false" data-imgheight="156" data-imgwidth="204" file_id="63b4ebc8b3aed375f90a3907" height="156" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20230/63b4ebc8b3aed375f90a3907_Picture1/Picture1_mid.png" title="" width="204" /></div>
<p><a href="https://www.emerson.com/en-us/about-us/leadership/frank-dellaquila">Frank Dellaquila</a>, senior executive vice president and chief financial officer of <a href="https://www.emerson.com/en-us">Emerson</a>, a global technology, software and automation leader, has been elected to the board of directors of commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a>. FM Global’s board comprises executives from some of the world’s most sophisticated manufacturing, distribution and service organisations.</p>
<p>At Emerson, Dellaquila is responsible for the company’s global financial strategy and operations and has been instrumental in developing Emerson’s world-class financial leadership team. Dellaquila and his team have navigated the company successfully through economic downturns and comprehensive business portfolio repositioning. Throughout his career Dellaquila has been responsible for capital markets activity, corporate investments, financial risk management, tax, and investor relations, as well as diligence and negotiations for numerous global acquisitions, divestitures and joint ventures.</p>
<p>“Frank’s impressive background will be invaluable to our company and our mutual owners as we continue to help many of the world’s leading organisations maximise the financial upside of choosing resilience,” said FM Global Board Chairman Thomas A. Lawson. “His experience is particularly relevant as FM Global develops data-driven, technology-enabled solutions to assess climate-related and other risks to help clients prioritise their resilience investments.”</p>
<p>Other members of FM Global’s board of directors include:</p>
<ul>
<li>Frank T. Connor, executive vice president and CFO, Textron Inc.</li>
<li>Colin Day, chairman, Premier Foods, plc</li>
<li>Michel Giannuzzi, chairman, Verallia SA</li>
<li>Glenn R. Landau, president and COO, Corrugated Supplies Company, LLC</li>
<li>Thomas A. Lawson, chairman, FM Global</li>
<li>John A. Luke Jr., retired chairman, WestRock Company</li>
<li>Gracia C. Martore, retired president and CEO, TEGNA Inc.</li>
<li>Christine M. McCarthy, senior executive vice president and CFO, The Walt Disney Company</li>
<li>Thomas J. Quinlan III, president and CEO of R.R. Donnelley & Sons Company</li>
<li>Malcolm C. Roberts, president and CEO, FM Global</li>
<li>Israel Ruiz, founding chairman of MIT’s Engine, former executive vice president and treasurer, Massachusetts Institute of Technology</li>
<li>David T. Walton, president and CEO, Caterpillar Financial Services Corporation</li>
</ul>
<p><strong>About FM Global</strong></p>
<p><span>Established nearly two centuries ago and present in Australia for half a century, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</span></p>
]]>Mr Dellaquila’s impressive background will be invaluable as FM Global continues to help organisations maximize the financial upside of choosing resilience.2023-01-04T15:00:00+00:00https://newsroom.fmglobal.com.au/releases/nsw-emergency-services-levy-6886330NSW Emergency Services Levy2024-03-23T13:02:13.295839+00:00unspecified<![CDATA[<p>The ESL provides funding for the NSW fire and emergency services which is currently collected through a levy on insurance policies.</p>
<p>FM Global has estimated that to meet the funding obligations to the fire and emergency services a<strong> rate of 27% will need to be applied to all assessable NSW premiums effective 01 JAN 2023. </strong></p>
<p>The rate will be reviewed periodically and may vary in future in response to revised Brigade budget expectations, revised industry insurance premium pool estimates, and other factors arising from the NSW government’s decision to reinstate the insurer ESL.</p>
]]>To meet the funding obligations to the fire and emergency services, a rate of 27% will need to be applied to all assessable NSW premiums effective 01 JAN 20232023-01-04T03:41:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-appoints-andrew-bryson-as-senior-vice-president-engineering-and-researchFM Global appoints Andrew Bryson as senior vice president, engineering and research2024-03-23T13:02:13.336342+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 288px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Bryson Andrew" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="288" file_id="637d2cdfb3aed36430fa0ef2" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/202210/637d2cdfb3aed36430fa0ef2_Bryson+Andrew/Bryson+Andrew_mid.jpg" title="" width="288" /></div>
<p>SYDNEY, AUSTRALIA—<a href="https://www.linkedin.com/in/andrew-bryson-6a096811/?originalSubdomain=uk">Andrew Bryson</a> has been appointed senior vice president, engineering and research at <a href="https://www.fmglobal.com/" target="_blank">FM Global</a>. He also has global responsibility for FM Approvals, an international leader in third-party testing and certification of property loss prevention products and services. Previously, he served as FM Global’s London operations manager.</p>
<p>Bryson, who holds a bachelor’s degree in electronic engineering from the University of Reading, UK, began his career as a systems engineer at Gardline Geosciences Ltd. He first joined FM Global in 1995 serving in a number of engineering and underwriting roles before moving on to risk management functions at GlaxoSmithKline and Cobham plc. In 2016, Bryson returned to FM Global and assumed the role of London operations engineering manager before being promoted to his previous position.</p>
<p>He succeeds Brion Callori, who will retire on Dec. 31, 2022 after 37 years of service with FM Global.</p>
<p align="center">###</p>
<p><br />
<strong>About FM Global</strong></p>
<p>Established nearly two centuries ago and present in Australia for half a century, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>Bryson was previously FM Global’s London operations manager2022-11-22T20:09:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-opens-first-experiential-risk-management-facility-in-asia-pacificFM Global opens first experiential risk management facility in Asia Pacific2024-03-23T13:02:13.385435+00:00unspecified<![CDATA[<p><strong>SYDNEY, AUSTRALIA </strong>– <a href="http://www.fmglobal.com/">FM Global</a>, one of t­he world’s largest commercial and industrial property insurers, has opened the company’s first client-centered experiential risk management facility in Asia Pacific, situated in Singapore Science Park. Designed to meet the complex and diverse needs of the Asia-Pacific region, the FM Global Centre aims to empower clients and prospects in the region to protect their assets today while increasing their longer-term resilience. </p>
<p>"The FM Global Centre embodies how businesses can take action to realise the business value of risk improvement and increased resilience,” said Malcolm Roberts, FM Global president and chief executive officer. “With the opportunity for first-hand experience in the science of risk management, companies will be empowered to elevate conversations about risk improvement, and can more effectively address the challenges of increasing climate risk as well as growth and infrastructure challenges in the region.”</p>
<p>The FM Global Centre enables organisations to learn about and experience solutions grounded in the company’s scientific research and engineering expertise, not only to protect property and assets, but to keep their businesses going and growing strong. The SGD$80 million, 6-storey facility spanning 11,613 square metres houses a series of interactive simulation labs and learning spaces, including an immersive theatre that demonstrate how investment in risk improvement can prevent losses and deliver business value. These insights can help organisations make the best decisions to strengthen supply chains, protect owned locations, or locate new facilities and ultimately generate business value. The Centre’s interactive simulation labs have a specific focus on natural hazards, demonstrating how property losses resulting from high-wind events, floods and earthquakes can be prevented through a focus on greater climate resilience. Other experiential areas include material impact testing, flood simulations, and a virtual warehouse simulation to demonstrate the risks posed by natural hazards.</p>
<p>The Centre is also home to the company’s Asia operations. Present in the Asia Pacific region for 50 years and headquartered from Singapore for nearly 40 of these, FM Global has a regional focus on the pharmaceuticals, healthcare and technology manufacturing sectors, as well as supporting the expansion of global clients into the Asia Pacific.</p>
<p>It is hoped that the FM Global Centre will contribute significantly to Asia Pacific’s growing loss prevention culture and encourage regional businesses to take action in enhancing their resilience.</p>
<p>“The FM Global Centre in Singapore builds on nearly two-centuries of global engineering and loss prevention experience, tailored for Asia Pacific’s unique business and geographic context. As we celebrate our 50 years in Australia, the opening of the FM Global Centre in Singapore represents our investment in the region as well as our commitment to improving the resilience of our clients across the APAC region.” said Andrew Stafford, senior vice president, operations manager Australia and New Zealand.</p>
<p>The FM Global Centre, which has incorporated Asian design principles to achieve a harmony with the landscape, was developed by Ascendas-Singbridge, supported by main contractor Nakano, consultant and designer PT Consultants, M&P Consultants JRP, and interior designers Gensler and Cundall. It is built to FM Global’s FM Approved standards and represents one of the most resilient and well-protected buildings in Asia Pacific.</p>
<p align="center">###</p>
<p> </p>
<h3><strong>About FM Global</strong></h3>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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. These 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 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
<p>Singapore’s FM Global Centre complements the US-based FM Global Research Campus, which is regarded as the world’s premier centre devoted to preventing physical threats to its clients’ properties from turning into real-life catastrophes. Here, real-time simulations anticipate what preparations and protection the client’s facilities need to mitigate disasters.</p>
<p>FM Global has established partnerships with educational, technical and governmental organisations around the world, including the Institute of Catastrophe Risk Management, which serves as a trusted advisor to standards and risk-focused organisations in Singapore and across the region.</p>
<h3><strong>About the FM Global Centre </strong></h3>
<p>Located in Singapore Science Park, the 6-storey building spanning 11,613 square metres includes an immersive media theatre with capacity for 80 people and offers robust hands-on loss prevention education across 10 interactive simulation laboratories and four learning spaces, including:</p>
<ul>
<li><strong>Natural Hazards Lab</strong>: Learn from a series of interactive physical and virtual demonstrations how to prevent property losses from the impact of natural hazards, including high-wind events, floods and earthquakes. Live demonstrations include large flying debris impact testing apparatus, flood simulations and mitigation solutions, and a virtual warehouse simulation that shows the risks posed by earthquake, fire, wind, and flooding, complemented by life-like sounds.</li>
<li><strong>Fire Pump Lab</strong>: Using projection mapping and lighting, we demonstrate the importance of a well-designed and well-maintained fire pump as part of an effective fire prevention strategy.</li>
<li><strong>Riser Lab</strong>: Understand the four different types of risers as part of a fire protection system and what is involved in their maintenance and testing. Using augmented reality, you will experience the importance of having the right fire protection system and special protection systems for your facility. </li>
<li><strong>Sprinkler Lab</strong>: Learn how sprinklers work with live demonstrations of various sprinkler discharge characteristics. The Sprinkler Lab illustrates the strengths and limitations of various types of sprinklers, showcasing their uses in the event of different fire hazards.</li>
<li><strong>Warehouse Lab</strong>: Witness how fast a fire spreads based on the nature of materials and how they are stored. You will see how a warehouse is configured in a series of visual demonstrations and learn about the best practices in warehouse protection. The aim is to help you identify and understand deficiencies in rack storages and shelves.</li>
<li><strong>Building Assemblies Lab</strong>: Material selection helps determine your property’s resilience. We share which FM Approved roof and wall assemblies are best suited to withstand wind hazards, and various insulation materials for protection against fire hazards.</li>
<li><strong>Utilities and Production Lab</strong>: We identify the various hazards and safeguards associated with industrial equipment such as boilers, generators, turbines and fuel tanks. Learn more about FM Global’s recommended testing and maintenance practices to maximise resilience. </li>
<li><strong>Electrical Lab</strong>: Through electrical fire losses, learn about electrical risks, one of the major causes of loss across all industries. This insider experience allows you to appreciate a range of risks as well as the implementation of strategies to prevent property damage and business interruption from electrical damages.</li>
<li><strong>Ignitable Liquid Use and Storage Labs</strong>: These two labs utilise virtual simulation setup to provide insights on how to recognise and control ignition sources in a range of liquid storage scenarios, as well as identify process hazards and solutions to improve your company’s risk profile. These two labs also showcase a range of different devices used to mitigate risk. </li>
</ul>
]]>To meet the complex and diverse needs of the Asia-Pacific region, the FM Global Centre empowers businesses to increase their long-term resilience2022-11-07T23:02:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-releases-climate-risk-report-and-climate-reporting-aidFM Global Releases Climate Risk Report and Climate Reporting Aid2024-03-23T13:02:13.423945+00:00unspecified<![CDATA[<p><strong>Climate Risk Report scores businesses on their vulnerability to climate-related threats; Climate Reporting Aid supports ESG disclosures</strong></p>
<p>SYDNEY, AUSTRALIA—Climate change poses a serious risk to businesses globally, but which of your facilities are at highest risk, and in what ways? And how can you best protect your business today and ensure you prosper in the future?</p>
<p><a href="https://www.fmglobal.com/">FM Global</a> today answered these questions for policyholders by introducing two new <a href="https://www.fmglobal.com/products-and-services/products/climate">first-of-their-kind climate resilience products</a>: the <strong>FM Global Climate Risk Report</strong> and the <strong>FM Global Climate Reporting Aid</strong>. Both are available to FM Global clients, which include many of the world’s largest organisations, including one of every four Fortune 500 companies.</p>
<p>Climate-related losses at commercial properties with the highest climate risk are 30 times more likely to occur and be 180 times more severe than at properties with the lowest climate resilience, according to FM Global research.</p>
<p>“We’ve analysed losses from climate risk and the value of climate resilience,” said Randall E. Hodge, executive vice president, staff insurance operations, at FM Global. “These new climate resilience products provide our clients with informed guidance from which they can prioritise their climate-risk-mitigation investments, ultimately leading to a more resilient tomorrow.”</p>
<p><strong>Risk prioritisation</strong></p>
<p>The <strong>Climate Risk Report</strong> scores each client organisation based on the actions they have taken to address climate risk and their unique exposure to events like flood, windstorms, hail and wildfire. A client’s score is based on both <em>actionable</em> risks—those that can be mitigated by actions like installing flood barriers—and <em>inherent</em> risks, such as exposure to extreme weather. This information helps CEOs, CFOs, chief sustainability officers, risk managers and other business leaders prioritise their most critical investments in climate resilience.</p>
<p>The Climate Risk Report is based on billions of property-risk data points FM Global has collected in more than 60,000 engineering visits each year to client sites. The report is also underpinned by artificial intelligence, machine learning and predictive analytics to help clients prioritise their risk improvement efforts.</p>
<p>The Climate Risk Report complements FM Global’s recently announced <a href="https://newsroom.fmglobal.com/releases/fm-global-allocates-us-300-million-first-of-its-kind-resilience-credit-to-help-policyholders-proactively-invest-in-climate-resilience">Resilience Credit</a>, a 5% premium offset to FM Global policyholders. Those companies can invest the credit—which totals approximately US$300 million across FM Global’s client base—in priorities identified in their Climate Risk Report. It has the potential to help those organisations reduce total loss expectancies from those exposures by more than US$120 billion.</p>
<p><strong>Help with ESG reporting</strong></p>
<p>The second new product, the <strong>Climate Reporting Aid</strong>, is a guide that helps clients disclose acute and chronic climate-related financial risks to investors and the public, according to widely-adopted frameworks like the <a href="https://www.fsb-tcfd.org/press/statement-of-mary-schapiro-on-the-secs-proposed-rules-to-enhance-and-standardize-climate-related-disclosures-for-investors/">international Task Force on Climate-related Financial Disclosures (TCFD),</a> consisting of representatives from across the G20. “We are learning from our clients, and in particular from their chief sustainability officers, that this data is very valuable in completing these financial disclosures, and that data can be difficult and costly to obtain otherwise,” said Hodge.</p>
<p>Climate risk disclosure is an integral component of reporting on environmental, social and governance (ESG) factors, a pressing responsibility for global organisations. Data from a custom Climate Risk Report can support reporting on climate-related opportunities and planned actions toward greater climate resilience.</p>
<p>The Climate Risk Report and Climate Reporting Aid also will be provided to policyholders of <a href="https://www.affiliatedfm.com/">AFM</a>, FM Global’s middle-market business unit.</p>
<p><strong>A set of climate resilience products</strong></p>
<p>These new products bolster a climate portfolio that includes the publicly available <a href="http://www.fmglobal.com/resilienceindex">FM Global Resilience Index</a>. The online index ranks the relative resilience of the business environments of nearly 130 countries and territories and includes interactive climate risk and ESG filters. Coming soon is a predictive Climate Change Impact Report that will provide insights on clients’ unique chronic risk based on the evolving impact of climate change on perils such as drought, extreme temperatures, increased precipitation, intensifying winds and rising sea levels.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago and present in Australia for almost half a century, 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 policyholder-owners. These 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 four Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>New products help businesses build their climate resilience.2022-10-11T22:00:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-names-ziad-alex-s-tadmoury-to-head-its-global-middle-market-division-afmFM Global names Ziad Alex S. Tadmoury to head its global middle market division, AFM2024-03-23T13:02:13.464002+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 249px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Alex Tadmoury 2022" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="249" file_id="6323ac4db3aed325ae0147ef" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20228/6323ac4db3aed325ae0147ef_Alex+Tadmoury+2022/Alex+Tadmoury+2022_mid.jpg" title="" width="249" /></div>
<p>SYDNEY, AUSTRALIA — FM Global, one of the world’s largest commercial property insurers, has appointed <a href="https://www.linkedin.com/in/tadmouryz/">Ziad Alex S. Tadmoury</a> as senior vice president, division manager of AFM, which specialises in insuring middle market clients around the world.</p>
<p><a href="http://www.affiliatedfm.com/">AFM</a> provides tailored underwriting expertise and property loss control engineering through a select international network of broker partners. It has office locations in Australia, Canada, France, Germany, the Netherlands, Spain, the United Kingdom and throughout the United States, and provides coverage in more than 90 countries.</p>
<p>Tadmoury was previously senior vice president and FM Global’s Asia Pacific division manager based in Singapore. He will be based at AFM’s corporate offices in Johnston, R.I., USA and succeeds Gerry L. Alonso who retired in July 2022 after 37 years of service with FM Global.</p>
<p>Tadmoury joined FM Global in 1989 as a reinsurance claims analyst in Waltham, Mass., USA, and advanced to hold various positions, including deputy director of FM Global’s construction and international power units, based in London, and operations senior vice president, operations manager based in Paris.</p>
<p>In 2012, Tadmoury moved to FM Global’s corporate offices, where he held senior leadership roles in global sales and client experience, culminating in interim president and CEO of Hobbs Brook Management and operations senior vice president, compliance and real estate. He assumed his most recent role in 2019.</p>
<p>Tadmoury’s experience outside of FM Global includes roles with Hannover Re in Athens, Greece. He holds an MBA from Saint Louis University and a Bachelor of Science in quantitative business analysis from Indiana University.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.<br />
</p>
]]>Tadmoury was previously senior vice president and FM Global’s Asia Pacific division manager based in Singapore.2022-09-07T01:00:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-announces-new-executive-leadership-appointments-in-asia-pacific-regionFM Global announces new executive leadership appointments in Asia Pacific region2024-03-23T13:02:13.517840+00:00unspecified<![CDATA[<p>SYDNEY, AUSTRALIA – <a href="https://www.fmglobal.com/" target="_blank">FM Global</a> has announced several senior executive appointments as it promotes seasoned leaders within the company to new roles.</p>
<p><a href="https://www.linkedin.com/in/james-thompson-51936916/?originalSubdomain=au"><strong>James Thompson</strong></a>, FM Global’s vice president, manager, global sales in the APAC region, has been named senior vice president, APAC division manager. In his new role, Thompson is responsible for the oversight of all operations for FM Global’s Asia-Pacific division. Thompson is based in Melbourne, Australia.</p>
<p>Thompson joined FM Global in 1993 as a risk consultant engineer in the company’s Melbourne office, and has since served in various engineering and leadership roles in client service, sales, and underwriting within the U.S., U.K., and Australia. Prior to that, Thompson was an environmental project engineer for a Mobil/Exxon joint venture.</p>
<p>Thompson, who holds a bachelor’s degree in chemical engineering and a master’s degree in environmental engineering, both from the University of Melbourne, succeeds <a href="https://www.linkedin.com/in/tadmouryz/"><strong>Ziad Alex S. Tadmoury</strong></a>, who has been appointed senior vice president, <a href="https://www.affiliatedfm.com/">AFM</a> division manager, FM Global’s middle market business unit.</p>
<p><a href="https://www.linkedin.com/in/hianhong-tan-b2396b1/?originalSubdomain=sg"><strong>Tan Hian Hong</strong></a> has been named operations senior vice president, operations manager, Asia, and will assume responsibility for FM Global’s operations in Asia. Tan was previously vice president, division underwriting manager, responsible for Asia and Australia. He is based in Singapore and will report to James Thompson, senior vice president, APAC division manager.</p>
<p>Tan joined FM Global in 2004 as a risk consultant engineer. Since then, he has served in a variety of roles, including account engineer, account manager, and client service manager with a primary focus on Singapore, Malaysia, Thailand, Hong Kong, and South Korea.</p>
<p>Prior to joining FM Global, Tan worked as a process engineer for ABB Lummus Global in Singapore, Bloomfield, New Jersey, USA, and The Hague in the Netherlands. He holds a bachelor’s degree in chemical engineering from the National University of Singapore.</p>
<p><a href="https://www.linkedin.com/in/andrew-stafford-fmglobal/?originalSubdomain=lu"><strong>Andrew Stafford</strong></a> has been appointed operations senior vice president, operations manager, Australia and New Zealand. In his new role, Stafford will be based in Sydney and will assume responsibility for FM Global’s operations in Australia. Stafford was previously regional senior vice president, AFM EMEA and Australia. He succeeds <a href="https://www.linkedin.com/in/lynette-schultheis-042b5b40/"><strong>Lynette Schultheis</strong></a> who now oversees FM Global’s Western division.</p>
<p>Since joining FM Global in 1994 as a consultant engineer in Melbourne, Australia, Stafford has held a wide range of roles across the company including manager for field engineering training in Norwood, Massachusetts, USA, in 2000, and account manager for London operations in the U.K. in 2005. Stafford relocated back to Australia in 2008 as an account manager in Sydney before assuming the role of client service manager for Australia operations in 2011.</p>
<p>Stafford holds a bachelor’s degree in mechanical engineering from Swinburne University of Technology, Australia, and a bachelor’s degree in business administration from Mount Eliza Business School.</p>
<p>Both Tan and Stafford will report to Thompson.</p>
<p align="center">###</p>
<p><br />
<strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in the Asia Pacific region for 50 years, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>FM Global has promoted three of its seasoned leaders within the company to new APAC-based roles.2022-09-07T01:00:00+00:00https://newsroom.fmglobal.com.au/releases/r-r-donnelley-president-and-ceo-thomas-j-quinlan-iii-elected-to-board-of-directors-of-fm-globalR.R. Donnelley President and CEO Thomas J. Quinlan III elected to board of directors of FM Global2024-03-23T13:02:13.583848+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 240px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="TomQuinlanBioPic_mid" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="240" file_id="62febd8fb3aed3305017204b" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20227/62febd8fb3aed3305017204b_TomQuinlanBioPic_mid/TomQuinlanBioPic_mid_mid.jpg" title="" width="240" /></div>
<p>SYDNEY, AUSTRALIA —<a href="https://www.rrd.com/about/leadership">Thomas J. Quinlan III</a>, president and CEO of R.R. Donnelley & Sons Company, a leading global provider of marketing, packaging, print and supply chain solutions, has been elected to the board of directors of commercial property insurer <a href="http://www.fmglobal.com/">FM Global</a>. FM Global’s board comprises executives from the world’s most sophisticated manufacturing, distribution and service organisations.</p>
<p>Established nearly two centuries ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. Client-owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 500 companies.</p>
<p>“Tom brings significant experience leading and growing major business-to-business companies like those that many of our clients operate,” said FM Global Board Chairman Thomas A. Lawson. “He deeply understands the value of choosing resilience to maximise long-term organisational value. He will be a tremendous asset for our company and client-owners.”</p>
<p>Quinlan has guided companies through challenging business cycles during his career by transforming, growing and recapitalizing business-to-business manufacturing and services businesses. He has specialized expertise in rebranding traditional businesses and pivoting physical content into the digital space by leveraging digital marketing, data analytics, business intelligence and data management solutions. He holds an MBA in finance from St. John’s University and a bachelor’s degree in business administration from Pace University.</p>
<p>Other members of FM Global’s board of directors are:</p>
<ul>
<li>
<p><span>Frank T. Connor, executive vice president and CFO, Textron Inc.</span></p>
</li>
<li>
<p><span>Colin Day, chairman, Premier Foods, plc</span></p>
</li>
<li>
<p><span>Michel Giannuzzi, chairman and CEO, Verallia SA</span></p>
</li>
<li>
<p><span>Glenn R. Landau, president and COO, Corrugated Supplies Company, LLC</span></p>
</li>
<li>
<p><span>Thomas A. Lawson, chairman, FM Global</span></p>
</li>
<li>
<p><span>John A. Luke Jr., retired chairman, WestRock Company</span></p>
</li>
<li>
<p><span>Gracia C. Martore, retired president and CEO, TEGNA Inc.</span></p>
</li>
<li>
<p><span>Christine M. McCarthy, senior executive vice president and CFO, The Walt Disney Company</span></p>
</li>
<li>
<p><span>Malcolm C. Roberts, president and CEO, FM Global</span></p>
</li>
<li>
<p><span>Israel Ruiz, founding chairman of MIT’s Engine, former executive vice president and treasurer, Massachusetts Institute of Technology</span></p>
</li>
<li>
<p><span>David T. Walton, president and CEO, Caterpillar Financial Services Corporation</span></p>
</li>
</ul>
]]>Mr. Quinlan brings significant experience leading and growing major business-to-business companies like those that many of FM Global’s client-owners operate.2022-08-17T22:26:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-allocates-us-300-million-first-of-its-kind-resilience-credit-to-help-policyholders-proactively-invest-in-climate-resilienceFM Global allocates US$300 million, first-of-its-kind ‘resilience credit’ to help policyholders proactively invest in climate resilience2024-03-23T13:02:13.639631+00:00unspecified<![CDATA[<p>SYDNEY, AUSTRALIA—Policyholders of <a href="https://www.fmglobal.com.au/" target="_blank">FM Global</a>, which include one of every three Fortune 500 companies and similar size organisations worldwide, will collectively receive approximately US$300 million in a first-of-its-kind ‘resilience credit,’ providing them with additional means to invest in climate resilience solutions. The credit has the potential to help those organisations reduce total loss expectancies related to wind, flood and wildfire exposure by more than US$120 billion which, in turn, can magnify their positive impact on customers, colleagues and communities, according to FM Global data.</p>
<p>“With rising business disruption due to climate risk and companies increasingly focused on ESG strategies, the resilience credit is a potential game-changer for our clients, many of which are key contributors to the economy and society,” said Malcolm Roberts, president and chief executive officer. “This credit is made possible through our mutual ownership structure and risk engineering focus to support their business continuity and climate risk mitigation efforts.”</p>
<p>In addition to the credit, later this year, FM Global will introduce a new suite of climate resilience solutions that can help clients assess climate risk exposures and prioritise their risk improvement investments. “Combined, this new suite of tools, along with the resilience credit, represents a significant investment in helping keep our clients' businesses going and growing strong,” Roberts added.</p>
<p>The credit will be applied as a 5% premium offset against FM Global policies with renewals or anniversaries between Oct. 1, 2022, and Sept. 30, 2023, and will be calculated based on eligible in-force premium in effect 90 days prior to the renewal or anniversary date of the current policy.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in Australia for almost half a century, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.<br />
</p>
]]>Policyholders of FM Global, which include one of every three Fortune 500 companies and similar size organisations worldwide, will collectively receive approximately US$300 million in a first-of-its-kind ‘resilience credit,’2022-08-09T01:00:00+00:00https://newsroom.fmglobal.com.au/releases/just-updated-2022-fm-global-resilience-index-enhanced-to-support-business-executives-seeking-long-term-sustainable-outcomesJust updated: 2022 FM Global Resilience Index enhanced to support business executives seeking long-term sustainable outcomes2024-03-23T13:02:13.695027+00:00unspecified<![CDATA[<div>
<div class="textImage textImage-right" style="float: right; width: 360px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Global-Resilience-1200x62732_mid 1" author="" class="widget-image" custom_size="false" data-imgheight="188" data-imgwidth="360" file_id="629fbd03b3aed322c7838698" height="188" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20225/Global-Resilience-1200x62732_mid+1.jpg" title="" width="360" /></div>
<p>For companies seeking to grow and expand around the world responsibly and serve new customers and communities, the online <strong>2022 FM Global Resilience Index </strong><a href="http://www.fmglobal.com/resilienceindex">[fmglobal.com/resilienceindex] </a>has just been released and enhanced. It now includes 15 economic, risk quality, and supply chain measures that offer executives insights into the vulnerabilities of a country’s business environment and, conversely, its resilience.</p>
<p>The interactive web tool enables decision-makers to find, slice, dice, and compare objective data about 130 countries and territories to inform strategic decisions as they site new facilities, evaluate their supply chains, assess their business risk around the world, and perform due diligence for mergers and acquisitions.</p>
<h2>Climate risk and ESG-related enhancements</h2>
<p>Two new index measures for 2022, <em>climate risk exposure </em>and <em>climate risk quality</em>, help businesses intensify their focus on emerging environmental perils. The former measure reflects such threats as severe floods and windstorms, while the latter reflects building codes, code enforcement, and facilities improvements.</p>
<p>While ranked 107th for climate risk exposure, Australia sits in 20th place for climate risk quality this year, indicating the country is relatively better able than many other nations to address climate-related risks.</p>
<p>Conversely, as businesses struggle to manage supply chain strains, this year’s index also reveals regional trading partners that rank low for both <em>climate risk exposure </em>and <em>climate risk quality, </em>including China region 1 (East) and region 2 (Southwest and some coastal locations), India and Vietnam.</p>
<p>With stakeholder demands on companies increasing, the 2022 Resilience Index now includes country filters that present specific index data related directly to businesses’ climate risk and Environmental, Social and Governance (ESG) interests, as organisations strive to become more transparent in their commitments and values.</p>
<p>The two filters enable index users to focus exclusively on the climate risk- and ESG-related measures within the Resilience Index to better understand inherent country risks and identify opportunities through these lenses.</p>
<p>“Not only are many businesses now more inclined to address a changing climate and mitigate risk but increasingly, investors and regulators are also demanding transparency,” said Greg Duncan, Australia operations vice president, client service manager, FM Global.</p>
<p>Additionally, in recognition of the impact of pandemic risk, the 2022 Resilience Index includes two new measures: <em>health expenditure and supply chain timeliness</em>. Also, due to the availability of better-quality data, it now contains improved measures for <em>cyber risk </em>and <em>energy intensity </em>— a more comprehensive measure for 2022, broadened from fossil fuels to now include renewable and clean energy sources.</p>
<p>“Whether dealing with threats posed by a changing climate, adjusting to war, navigating a pandemic or meeting ESG demands, building resilience to achieve long-term sustainable outcomes is critical to business success,” said Mr. Duncan.</p>
</div>
<p>“The 2022 FM Global Resilience Index is designed to support senior executives in preparing for — and adapting to — a dynamic risk landscape and building business resilience responsibly.”</p>
<h2>Helping businesses build resilience against disruptive events</h2>
<p>The Resilience Index sees nearly 20,000 visits per year from global business leaders from numerous sectors, including chemicals, education, forest products, healthcare, mining, molten materials, pharma/biotech, power generation, governments, and semiconductors. A number of global companies have integrated the index into their executive dashboards as well.</p>
<h2>Additional Resilience Index Resources</h2>
<ul>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17062">Executive Summary</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=P17095">Frequently Asked Questions</a></li>
<li><a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=W00234">Methodology</a></li>
</ul>
<h2>About FM Global</h2>
<p>Established nearly two centuries ago, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 500 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>For companies seeking to grow and expand around the world responsibly and serve new customers and communities, the online 2022 FM Global Resilience Index [fmglobal.com/resilienceindex], has just been released and enhanced.2022-06-07T20:55:00+00:00https://newsroom.fmglobal.com.au/releases/nsw-emergency-services-levy-6872206NSW Emergency Services Levy2024-03-23T13:02:13.752309+00:00unspecified<![CDATA[<p>The ESL provides funding for the NSW fire and emergency services which is currently collected through a levy on insurance policies.</p>
<p>In light of the recently gazetted (approx. 28%) increase to the NSW ESL Contribution Target (largely due to expenditures related to the Bushfire Inquiry, improvements to communication systems, new fleet and fire stations), FM Global has estimated that to meet the funding obligations to the fire and emergency services a<strong> rate of 28% will need to be applied to all assessable NSW premiums effective 30 JUN 2022. </strong></p>
<p>The rate will be reviewed periodically and may vary in future in response to revised Brigade budget expectations, revised industry insurance premium pool estimates, and other factors arising from the NSW government’s decision to reinstate the insurer ESL.</p>
]]>To meet the funding obligations to the fire and emergency services a rate of 28% will need to be applied to all assessable NSW premiums effective 30 JUN 2022.2022-05-16T21:15:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-appoints-jessica-waters-as-vice-president-manager-of-climate-and-structural-resilienceFM Global appoints Jessica Waters as vice president, manager of climate and structural resilience 2024-03-23T13:02:13.814624+00:00unspecified<![CDATA[<div class="textImage textImage-left" style="float: left; width: 240px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="left" alt="Jessica Waters high res" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="240" file_id="626b193cb3aed37411232e01" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20223/626b193cb3aed37411232e01_Jessica+Waters+high+res/Jessica+Waters+high+res_mid.jpg" title="" width="240" /></div>
<p>SYDNEY, AUSTRALIA—<a href="https://www.linkedin.com/in/jessica-waters-7946437/">Jessica Waters</a> has been appointed vice president, manager of climate and structural resilience at <a href="https://www.fmglobal.com/" target="_blank">FM Global</a>, one of the world’s largest commercial property insurers.</p>
<p>Waters joined FM Global more than two decades ago and has served as engineering specialist, account engineer, and operations chief engineer in the company’s Boston operations. Most recently she was senior engineering technical specialist, natural hazards and structures. </p>
<p>In her new role, Waters will lead a team of engineering experts focused on fortifying industrial and commercial properties against climate and structural risks and will be based at the company’s corporate offices in Johnston, Rhode Island, USA.</p>
<p>Waters also is chair of the <a href="https://www.maritime.edu/" target="_blank">Massachusetts Maritime Academy</a> (MMA) board of trustees, which is responsible for Academy operations, reviewing and approving academic and business matters, including the annual budget, student fees and operational performance. Waters graduated from the Academy in 2001 with a Bachelor of Science in marine engineering and a U.S.Coast Guard 3rd Assistant Engineer’s License. She earned a Master of Science in emergency management from the Academy in 2009.</p>
<p>Waters succeeds Katherine Klosowski, who retired after 34 years with FM Global.</p>
<p><br />
<strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in Australia for almost half a century, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.<br />
</p>
]]>Jessica Waters has been appointed vice president, manager of climate and structural resilience at FM Global, one of the world’s largest commercial property insurers.2022-04-28T22:45:00+00:00https://newsroom.fmglobal.com.au/releases/news-20220408FM Global to withdraw from reinsurance business in Russia2024-03-23T13:02:14.174410+00:00unspecified<![CDATA[<div class="dc-20-page-content article-body">
<p>As we continue to watch the unfolding conflict, FM Global has made the decision to stop renewing any reinsurance business and to cease underwriting new reinsurance business with Russian insurers.</p>
<p>While we have policyholders with locations in Russia, FM Global does not and will not insure Russian-owned companies, nor are we a licensed insurer in the country. Rather, for our multinational clients with foreign-owned assets in Russia, we have previously reinsured their locations there. </p>
<p>We strongly condemn the actions of the Russian government against the people of Ukraine. We are saddened by the violence, loss of life and of the escalating humanitarian crisis.</p>
<p>We stand true in our belief in the values of democracy and respect for all human beings. Our thoughts remain with all who are affected by these events. </p>
<p>FM Global continues to abide by the sanctions and laws put in place by governmental bodies around the globe in relation to the ongoing conflict. We are closely monitoring any changes to these as this complex situation evolves.</p>
<p>In what are truly difficult times for so many, we continue to lean on our values of pulling together to do whatever we can to support our colleagues, clients and communities. This includes contributions from the FM Global Foundation to three organizations to support humanitarian relief efforts in the region—UNICEF, the International Committee of the Red Cross, and the International Rescue Committee. </p>
<p>The FM Global Foundation is multiplying employee contributions to these organizations through a double match, and we are seeing a record response to our employee matching gift program.</p>
<p>We will uphold our values of care for our employees as well as the commitments we have to our clients and partners. </p>
<p>We share with the world our hopes for a rapid return to peace.</p>
</div>
<div class="dc-20-page-content"><strong>Tags: </strong><a href="https://newsroom.fmglobal.com/releases?t=Ukraine">Ukraine</a>, <a href="https://newsroom.fmglobal.com/releases?t=Russia">Russia</a></div>
]]>As we continue to watch the unfolding conflict, FM Global has made the decision to stop renewing any reinsurance business and to cease underwriting new reinsurance business with Russian insurers.2022-04-07T17:41:00+00:00https://newsroom.fmglobal.com.au/releases/commercial-property-insurer-fm-global-donates-us-50-000-to-australian-flood-reliefCommercial property insurer FM Global donates US$50,000 to Australian flood relief2024-03-23T13:02:14.222164+00:00unspecified<![CDATA[<p>SYDNEY, AUSTRALIA—FM Global, one of the world’s largest commercial property insurers, has donated US$50,000 to <a href="https://www.givit.org.au/">GIVIT</a>, an Australian charity helping those affected by the recent devastating floods in Queensland and New South Wales. In addition, FM Global will double match its employee contributions to GIVIT through April 30, 2022.</p>
<p>GIVIT manages donations, offers of goods and services and volunteering aid for people and communities affected by cyclones, floods, fires and drought. Its success has led to the establishment of a dedicated GIVIT Disaster and Emergency Recovery Service now in place in the ACT, NSW, Queensland and Victoria.</p>
<p>“The widespread floods have affected thousands of families and businesses, said Lynette Schultheis, FM Global’s Australia operations senior vice president. “We regret the circumstances that create this need and are grateful to GIVIT for the work it is doing to provide communities and people with immediate support where and when they need it during this difficult time.”</p>
<p><strong>About FM Global </strong></p>
<p>Established nearly two centuries ago, and present in Australia for almost half a century, <a href="https://www.fmglobal.com.au/" target="_blank">FM Global</a> 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection. </p>
<p> </p>
]]>FM Global, one of the world’s largest commercial property insurers, has donated US$50,000 to GIVIT, an Australian charity helping those affected by the recent devastating floods in Queensland and New South Wales.2022-03-24T22:40:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-promotes-its-chief-investment-officer-sanjay-chawla-to-executive-leadership-teamFM Global promotes its chief investment officer Sanjay Chawla to executive leadership team2024-03-23T13:02:14.273735+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 278px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Chawla Sanjay 2018" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="278" file_id="61f32b45b3aed35fb4b811fa" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20220/61f32b45b3aed35fb4b811fa_Chawla+Sanjay+2018/Chawla+Sanjay+2018_mid.jpg" title="" width="278" /></div>
<p>FM Global, one of the world’s largest commercial property insurers, has appointed <a href="https://urldefense.com/v3/__https:/www.linkedin.com/in/sanjay-chawla-620b2a/__;!!CN7PONKNpoI9!rhMAdjt7bL6rqkLdRjVeoD3YcocGZ0SZl0OZsmfFxaeABmNVkEAo8WRX11mRVFvjSBo$">Sanjay Chawla</a>, the company’s chief investment officer, as an executive vice president.</p>
<p>Chawla’s promotion reflects the strategic contribution he and his investment team have made to the total financial strength of FM Global, whose insurance investment assets have grown to approximately US$25 billion. In his expanded role, Chawla will also become more involved in strategic corporate initiatives, including collaborating with an investment lens on the company’s environmental, social and governance (ESG) priorities.</p>
<p>Chawla, who reports to Malcolm C. Roberts, FM Global’s president and chief executive officer, joined the company in 2018 as senior vice president of investments. A year later, he was ranked among the <a href="https://urldefense.com/v3/__https:/www.ai-cio.com/news/top-20-corporate-cios/__;!!CN7PONKNpoI9!rhMAdjt7bL6rqkLdRjVeoD3YcocGZ0SZl0OZsmfFxaeABmNVkEAo8WRX11mRFc7DGWw$">10 most innovative and influential corporate CIOs</a> worldwide according to <em>Chief Investment Officer (CIO)</em>, an industry-leading news website.</p>
<p>Prior to working at FM Global, Chawla was the vice president and chief investment officer of Raytheon’s pension investments at Raytheon Company since August 2013. He also worked at The Dow Chemical Company for 18 years, where he held various leadership roles in finance, primarily portfolio investments and treasury, including global asset allocation, enterprise-wide and financial risk management at the corporate headquarters in Michigan, and also on expatriate assignments in Asia.</p>
<p>Chawla received an MBA from Virginia Polytechnic Institute and State University in Virginia., USA, and a bachelor’s degree in commerce (honors) from Shri Ram College of Commerce, Delhi University, India.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, and present in Australia for almost half a century, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>In his expanded role as an executive vice president, Chawla will be more involved in strategic corporate initiatives, including the company’s environmental, social and governance (ESG) priorities.2022-01-27T23:26:00+00:00https://newsroom.fmglobal.com.au/releases/am-best-affirms-fm-globals-a+-superior-financial-strength-ratingAM Best affirms FM Global’s A+ (Superior) financial strength rating2024-03-23T13:02:14.320659+00:00unspecified<![CDATA[<p>For another consecutive year, FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best. The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.</p>
<p>The insurance ratings company indicated “the rating reflects FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.”</p>
<p>In its rating summary, AM Best pointed out the “long-term resilience” of the mutual insurance company’s balance sheet, “solid growth in surplus,” and “policyholder protections within its contractual coverages.”</p>
<p>AM Best also highlighted FM Global’s “long history” and “unique market position” serving policyholders who include “highly recognisable corporate brands” with “highly protected risk(s).”</p>
<p>It noted FM Global has “superior knowledge of (those policyholders’) risks,” provides “expedient settlement of claims” and actual losses come in “well below modeled outcomes in most cases.”</p>
<p>FM Global also is <a href="https://newsroom.fmglobal.com/releases/fm-globals-financial-strength-ratings-affirmed-by-fitch-aa-and-s-p-global-a+">rated highly by Fitch (‘<u>AA’ (Very Strong)) and S&P Global Ratings</u> (‘A+’)</a>.</p>
]]>For another consecutive year, FM Global’s financial strength rating has been affirmed with a “stable” outlook.2022-01-20T00:55:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-donates-us-100-000-to-nsw-rural-fire-serviceFM Global donates US$100,000 to NSW Rural Fire Service2024-03-23T13:02:14.374927+00:00unspecified<![CDATA[<p>FM Global, one of the world’s largest commercial property insurers, has donated US$100,000 to the New South Wales Rural Fire Service Association. </p>
<p>The NSW Rural Fire Service is the world’s largest volunteer firefighting organisation, with jurisdiction over 99 percent of the state’s 800,000 square kilometres. From the formation of the first formal brigade at Berrigan in 1900, it now has about 72,000 volunteers across almost 2,000 brigades and is the lead agency for fighting and preventing bushfires across the state. It also combats structural fires and transport incidents. </p>
<p>“The latest Intergovernmental Panel on Climate Change report says Australia’s land has warmed by 1.4˚C in the past century. Heat extremes are increasing, the frequency of extreme fire days is rising and fire seasons are getting longer,” FM Global’s Operations Chief Engineer, Mike Hunneyball, said.</p>
<p>“The best ways to defend against fire risk are to use non-combustible construction materials, keep trees and grass as far away as possible from your facility, use external sprinklers, and develop a fire plan with local authorities like the NSW Rural Fire Service.”</p>
<p>FM Global has highlighted three main reasons why bushfire losses are increasing – increased value at risk, forest management challenges and the warming climate. As the climate continues to change, businesses seeking to cope with bushfires will need to become more climate resilient. For more information on how to protect facilities from this growing natural hazard, check out FM Global’s bushfire resources.</p>
<p><strong>About FM Global </strong><br />
Established nearly two centuries ago, and present in Australia for almost half a century, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection. </p>
]]>FM Global, one of the world’s largest commercial property insurers, has donated US$100,000 to the New South Wales Rural Fire Service Association.2021-12-14T00:42:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-financial-strength-ratings-affirmed-by-fitch-aa-and-s-p-global-a+FM Global’s financial strength ratings affirmed by Fitch (‘AA’) and S&P Global (‘A+’)2024-03-23T13:02:14.427203+00:00unspecified<![CDATA[<p>Commercial property insurer <a href="https://urldefense.com/v3/__http:/www.fmglobal.com/__;!!CN7PONKNpoI9!tH6Khtckgoza3ALE0w_EbLrA1MvIFBnUdaFyxjntIVHtWVq-QVtgS4qxNVnAq2XRqds$">FM Global</a> has received a ‘AA’ (Very Strong) financial strength rating affirmation from <a href="https://urldefense.com/v3/__https:/www.fitchratings.com/research/insurance/fitch-affirms-fm-global-ifs-ratings-at-aa-17-04-2020__;!!CN7PONKNpoI9!tH6Khtckgoza3ALE0w_EbLrA1MvIFBnUdaFyxjntIVHtWVq-QVtgS4qxNVnARHPiyAw$">Fitch</a> Ratings and an ‘A+’ rating affirmation from <a href="https://urldefense.com/v3/__http:/www.spratings.com/__;!!CN7PONKNpoI9!tH6Khtckgoza3ALE0w_EbLrA1MvIFBnUdaFyxjntIVHtWVq-QVtgS4qxNVnA9auMJng$" target="_blank">S&P Global</a> Ratings (A+)—both with a “stable” outlook. The ratings also apply to FM Global’s affiliates including FM Insurance Company Limited, FM Insurance Europe S.A. and middle market insurer <a href="https://urldefense.com/v3/__http:/www.affiliatedfm.com__;!!CN7PONKNpoI9!tH6Khtckgoza3ALE0w_EbLrA1MvIFBnUdaFyxjntIVHtWVq-QVtgS4qxNVnAeJtbvPM$">AFM</a>.</p>
<p>According to Fitch, the ratings affirmation reflects FM Global's “very strong capitalisation and competitive advantages derived from the company's engineering expertise and global presence in specialty commercial property insurance markets, as well as benefits drawn from the company's mutual company status.”</p>
<p>Fitch noted FM Global “is one of the leading providers of large limit commercial property capacity” and highlighted the company's “risk management sophistication,” “loss control expertise” and resultant “relatively low loss activity.”</p>
<p>S&P reported FM Global’s “strong long-term underwriting performance” stems from being “the global leader in providing insurance coverage and risk management services for large commercial and industrial properties.”</p>
<p>It also highlighted FM Global has “highly valued” products and services, “high client retention,” an “extensive roster of risk management engineers” and a management team with “significant depth and breadth.” S&P pointed out FM Global has a “highly regarded reputation for engineering expertise in assessing client risks to prevent and mitigate losses” that contributes to it being an “industry leader in engineering-based property underwriting and research” with “a significant commercial advantage over competitors.”</p>
<h2><strong>About FM Global</strong></h2>
<p>Established nearly two centuries ago, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The ratings reflect the commercial property insurer's strong capitalisation and underwriting performance derived from the company's property risk engineering expertise.2021-11-29T06:03:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-spotlights-six-key-facets-of-current-global-supply-chain-strainFM Global spotlights six key facets of current global supply chain strain2024-03-23T13:02:14.472544+00:00unspecified<![CDATA[<p>Six months after the <a href="https://newsroom.fmglobal.com/releases/denmark-bumps-norway-from-top-spot-in-the-2021-fm-global-resilience-index" target="_blank">release of the 2021 FM Global Resilience Index</a>, the world’s supply chains are being tested like never before. Supply chain conditions traditionally affect countries’ rankings within the annual index.</p>
<p>As one of the world’s largest commercial property insurers and a supply chain resilience expert, <a href="http://www.fmglobal.com/" target="_blank">FM Global</a> today identified six facets of the current supply chain crisis that exemplify threats to business resilience. [1]</p>
<ol>
<li><strong>COVID-19</strong> – The pandemic has disrupted demand (as consumers have hunkered down) and product supply (as factories have suspended production), setting up a bullwhip effect of supply and demand mismatches.</li>
</ol>
<p><strong>FM Global takeaway: Although the pandemic triggered supply chain problems, other contributors are the proliferation of chip-based products and intensification of demand, which aren’t going away.</strong></p>
<ol>
<li value="2"><strong>Cyber risk</strong> – A May cyber attack on the Colonial Pipeline disrupted U.S. fuel supply for less than a week but revealed the soft underbelly of modern supply chains – that is, a tight integration with digital systems that will intensify with the arrival of 5G broadband cellular networks.</li>
</ol>
<p><strong>FM Global takeaway: Cybercrime has become big business and a geopolitical flashpoint, making cybersecurity an integral part of business strategy. Cyber security requires vigilance, intelligence, employee training, advanced technology and international diplomacy.</strong></p>
<ol>
<li value="3"><strong>Port backlog</strong> – Goldman Sachs has estimated that US$24 billion of goods have been lingering outside of California ports alone as ocean-shipped goods have accumulated faster than workers can move them along.</li>
</ol>
<p><strong>FM Global takeaway:</strong> <strong>Unfortunately, there are no assurances that backlogs and elevated shipping costs won’t linger through the middle of next year or longer.</strong></p>
<ol>
<li value="4"><strong>Truck driver shortage </strong>– Many countries of the world lack enough truck drivers to move the goods that are backlogged in ports and elsewhere. At last reckoning, 20% of Eurasia’s road transport driving jobs were unfilled, according to the International Road Transport Union, and an estimated 80,000 truck driving jobs were unfilled in the U.S., according to the American Trucking Associations.</li>
</ol>
<p><strong>FM Global takeaway: This shortage will strengthen the case for autonomous-vehicle development and for lowering the interstate truck-driving age.</strong></p>
<ol>
<li value="6"><strong>Deadly floods </strong>– Deluges in China and Europe have destroyed communities, severed railway links, and disrupted manufacturing.</li>
</ol>
<p><strong>FM Global takeaway: Although no single weather event can be conclusively attributed to a changing climate, flooding is a well-documented effect of warming temperatures and a growing risk to business.</strong></p>
<ol>
<li value="7"><strong>Chip shortage </strong>– The pandemic closed factories and triggered a surge in technology demand, tension that was exacerbated by severe weather, shipping backlogs, and stockpiling. The shortage has affected auto, gaming, smartphone, and medical device manufacturing, among many other industries, and is expected to extend as far as 2023 or beyond.</li>
</ol>
<p><strong>FM Global takeaway: This shortage looks familiar. Chip booms and busts have been common throughout the technology’s history and are likely to recur in the future.</strong></p>
<p>“These and other factors contribute to the global supply chain strain, and each business should evaluate the potential implications on their company,” said FM Global’s Doug Backes, vice president and manager, staff claims. “The <a href="http://www.fmglobal.com/resilienceindex">2021 FM Global Resilience Index</a> is designed to assist organizations in optimizing their supply chains in good times and in bad, by providing valuable data on the relative resilience of countries’ and territories’ business environments.”</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection</p>
<div>---</div>
<div> </div>
<div><span lang="EN-US">[1]: These six facets of the current supply chain crisis are separate from the traditional supply-chain resilience drivers within the FM Global Resilience Index, which are control of corruption, quality of infrastructure, corporate governance, and supply chain visibility.</span></div>
]]>Six months after the release of the 2021 FM Global Resilience Index, six factors are testing supply chains and businesses like never before.2021-11-18T05:05:00+00:00https://newsroom.fmglobal.com.au/releases/fm-insurance-company-limiteds-fmi-scheme-under-division-3a-part-iii-of-the-insurance-act-1973FM Insurance Company Limited’s (FMI) scheme under Division 3A Part III of the Insurance Act 19732024-03-23T13:02:14.533063+00:00unspecified<![CDATA[<p><em>FMI has made an application to the Federal Court of Australia in Sydney for orders confirming a scheme under Division 3A of Part III of the Insurance Act 1973 to transfer its Australian general insurance business to Factory Mutual Insurance Company (<strong>FMIC</strong>). This represents the conclusion of arrangements to transition FMI’s business to FMIC that commenced on 1<sup>st</sup> October 2014. The following documents are available here:</em></p>
<ul>
<li><em>Notice of Intention</em></li>
<li><em>Scheme Document</em></li>
<li><em>Scheme Summary</em></li>
<li><em>Actuarial Report</em></li>
</ul>
<p><em>The application for confirmation of the Scheme will be by the Federal Court in Sydney on 20 December 2021</em></p>
]]>The following documents have been submitted to the Court: Notice of Intention, Scheme Document, Scheme Summary, Actuarial Report2021-11-15T02:50:00+00:00https://newsroom.fmglobal.com.au/releases/new-podcast-episode-5g-puts-businesses-industrial-controls-in-cybercrime-bulls-eyeNew podcast episode: 5G puts businesses’ industrial controls in cybercrime bull’s-eye 2024-03-23T13:02:14.613854+00:00unspecified<![CDATA[<p>As new and faster cellular networks connect more devices to the internet, that means more potential disruption to businesses’ operational technology, including their industrial controls. Learn about the risks and how you can help your organisation become more resilient.</p>
<p><a class="btn btn-pink round-icon" href="https://anchor.fm/fmglobal/episodes/5G-puts-businesses-industrial-controls-in-cybercrime-bulls-eye-e19bcsr/a-a6p9qdr" rel="" target="_blank" title="Listen now">Listen now</a></p>
]]>As new and faster cellular networks connect more devices to the internet, that means more potential disruption to businesses’ operational technology, including their industrial controls. Learn about the risks and how you can help your organisation become more resilient.2021-10-27T23:13:00+00:00https://newsroom.fmglobal.com.au/releases/commercial-property-insurer-fm-global-appoints-its-first-chief-learning-officer-and-names-new-head-of-emeaCommercial property insurer FM Global appoints its first chief learning officer and names new head of EMEA2024-03-23T13:02:14.664684+00:00unspecified<![CDATA[<p>FM Global, one of the world’s largest commercial property insurers, has made two senior-level moves in the organisation as it continues to competitively position the company and its products and services.</p>
<div class="textImage textImage-right"><img align="right" alt="johnson-sm" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="616efb55b3aed351e5a2c4f2" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/240/files/20219/616efb55b3aed351e5a2c4f2_johnson-sm/johnson-sm_s.jpg" title="" width="150" /></div>
<p><a href="https://www.linkedin.com/in/philip-johnson-a065bb1a/" target="_blank"><strong>Philip Johnson</strong></a>, FM Global’s senior vice president, EMEA division manager, and a 25-year veteran of the company, has been promoted and named the company’s first chief learning officer, a new global role based in London, U.K. Upon transitioning into the role, he will be responsible for leading the development of the FM Global Academy, as it globally expands its focus on providing a range of in-person and on-demand learning programs to meet the business and development needs of clients and the insurer’s employees. </p>
<p>Since joining FM Global in 1995 as a consultant engineer, Johnson has served in various leadership roles encompassing client service, engineering, business process improvement and operations. Prior to that, Johnson worked on nuclear power station design and held project management roles in large infrastructure projects across Europe. He holds a bachelor’s degree in civil engineering from the University of Newcastle-upon-Tyne, U.K., and completed postgraduate studies at Luxembourg School of Business.</p>
<p> </p>
<div class="textImage textImage-right"><img align="right" alt="dempsey-sm" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="616efb65b3aed351e6a2cb9d" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/240/files/20219/616efb65b3aed351e6a2cb9d_dempsey-sm/dempsey-sm_s.jpg" title="" width="150" /></div>
<p><a href="https://www.linkedin.com/in/chris-dempsey-9a1ba467/" target="_blank"><strong>Christopher M. Dempsey</strong></a>, operations senior vice president, Chicago operations manager, who has worked for the company for two decades, will assume Johnson’s role as senior vice president, EMEA division manager. Dempsey will be based in Luxembourg and be responsible for operations and strategic direction across EMEA, including underwriting, client service and engineering.</p>
<p>He joined FM Global in 2001 as a customer service consultant before becoming a senior consultant engineer and then assuming various engineering and underwriting management roles of increasing responsibility, including a role as Boston operations branch manager. </p>
<p>He holds a Bachelor of Science degree in fire and safety engineering from Eastern Kentucky University, USA.</p>
<p><strong>About FM Global</strong><br />
Established nearly two centuries ago, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>FM Global has made two senior-level moves in the organisation as it continues to competitively position the company and its products and services.2021-10-20T21:25:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-clients-to-benefit-from-a-us-600-million-membership-credit-in-2022-resulting-from-proactive-loss-mitigation-strategiesFM Global’s clients to benefit from a US$600 million membership credit in 2022 resulting from proactive loss mitigation strategies2024-03-23T13:02:14.722539+00:00unspecified<![CDATA[<p>FM Global, one of the world’s largest commercial property insurers, has announced that its eligible policyholders will collectively receive an estimated US$600 million in membership credit when they renew their policies between Jan. 1, 2022, and Dec. 31, 2022. In the past 12 months, FM Global's clients completed over 50,000 of its engineering-driven risk improvement recommendations, resulting in approximately US$700 billion of loss exposures mitigated. </p>
<p>“Despite a world facing increasing risks and the continuing challenges of the COVID-19 pandemic, our policyholders’ proactive approach to property risk improvement continues to contribute to their resilience and their ability to mitigate losses,” said Thomas A. Lawson, chairman and chief executive officer. “As a mutual insurance company, the membership credit is one way we recognise our client-owners for making a strategic decision to choose resilience.”</p>
<p>The membership credit an eligible policyholder receives will be based on their premium and tenure and applied as an offset against premium at a client’s renewal or anniversary date. A few clients have been FM Global policyholders since the late 1800s.</p>
<p>FM Global clients holding policies for:</p>
<ul>
<li>fewer than 5 consecutive years will be eligible for a 5% credit.</li>
<li>at least 5 consecutive years but fewer than 20 will be eligible for a 10% credit.</li>
<li>at least 20 consecutive years will be eligible for a 15% credit.</li>
</ul>
<p>A detailed overview of the 2022 membership credit plan (including eligibility, timing and basis for calculations) is available <a href="https://fmglobalpublic.hartehanks.com/AssetDisplay?acc=11FM&itemCode=W299054" rel="" target="_blank" title="">here</a>.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>The membership credit recognises FM Global's client-owners for making a strategic decision to choose resilience which resulted in approximately US$700 billion of loss exposures mitigated, in the past 12 months.2021-09-29T16:00:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-equipment-predisposed-tool-recognized-by-business-insurance-magazine-with-a-2021-innovation-awardFM Global’s Equipment Predisposed tool recognized by Business Insurance magazine with a 2021 Innovation Award2024-03-23T13:02:14.770655+00:00unspecified<![CDATA[<p>FM Global, one of the world’s largest commercial property insurers, has won <a href="https://urldefense.com/v3/__https:/www.businessinsurance.com/article/00010101/NEWS06/912344386/2021-Innovation-Awards-Equipment-Breakdown__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfk8GGZgI$">a 2021 Innovation Award</a> from <em>Business Insurance</em> magazine for the creation of a unique web-based benchmarking tool, called <em>Equipment Predisposed. </em>Using predictive analytics, the first-of-its kind tool provides its clients with a way to create greater resilience for their organisations by helping them understand when critical equipment might fail, allowing them to better plan and prioritise risk improvements.</p>
<p>Additionally, the <em>Equipment Predisposed</em> tool identifies what factors can lead to equipment failure and provides risk managers with benchmarking based on an advanced analytic approach combined with the company’s proprietary data. FM Global clients also are able to see which recommendations provided by FM Global’s loss prevention engineers should be implemented first to have a higher impact on mitigating risk exposure.</p>
<p>FM Global created<em> Equipment Predisposed</em> to combat equipment breakdown at facilities FM Global insures, which in 2018 rivaled fire loss in both frequency and severity of claims and accounted for nearly 28% of gross dollar losses across all industries.</p>
<p><em>Business Insurance</em> Innovation Award winners were selected by an independent panel of judges composed of professional risk managers from a variety of backgrounds and industries.</p>
<p>In prior years, FM Global has also been recognised with <em>Business Insurance</em> Innovation Awards for:</p>
<ul>
<li>its <a href="https://urldefense.com/v3/__https:/www.fmglobal.com/insights-and-impacts/2021/cyber-award__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfbnbbahA$">Cyber Lab</a>, located in Norwood, Massachusetts, USA, where scientists study real-world cyber threats and test various defense options and allows risk managers to see, in a controlled environment, how their information technology and operational technology systems can be attacked</li>
<li>its patented <a href="https://urldefense.com/v3/__https:/www.fmglobal.com/products-and-services/services/cyber-risk-assessment__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfjyE8-u8$">Cyber Risk Assessment</a>, the insurance industry’s first comprehensive cyber readiness assessment, designed to help clients measure their overall cyber security resilience</li>
<li>its <a href="https://urldefense.com/v3/__https:/www.fmglobal.com/research-and-resources/nathaz-toolkit/flood-map__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfgREAwJM$">Global Flood Map</a>, a worldwide view of high- and moderate-hazard flood zones across the globe, meant to more accurately answer the question “Are your locations in or out of potential flood zones?”</li>
<li><a href="https://urldefense.com/v3/__https:/www.fmglobal.com/research-and-resources/tools-and-resources/myrisk__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGf0F9Qj3M$">MyRisk®</a>, a one-of-a-kind cloud-based portal that helps risk managers identify and analyse risks as well as evaluate the cost of risk improvement</li>
<li>the <a href="https://urldefense.com/v3/__http:/www.fmglobal.com/resilienceindex__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfS4gowOI$">FM Global Resilience Index</a>, the first data-driven tool and repository that ranks the resilience of 130 countries and territories to business-disruptive events</li>
<li>the <a href="https://urldefense.com/v3/__https:/www.fmglobal.com/products-and-services/education-and-training/client-learning-solutions/hands-on-training-at-the-fm-global-simzone__;!!CN7PONKNpoI9!rEgSdY6nEl9_isBaqhjjqXaYvzktr1pa_C3yKgMpLRW590Ari0_M0dNimSGfXHjEs7I$">FM Global SimZone</a>, a distinctive 12,000-square-foot (1,115-square-meter) training facility for the company’s clients and engineers in Norwood, Massachusetts, USA</li>
</ul>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</p>
]]>FM Global, one of the world’s largest commercial property insurers, has won a 2021 Innovation Award from Business Insurance magazine for the creation of a unique web-based benchmarking tool, called Equipment Predisposed.2021-09-27T17:00:00+00:00https://newsroom.fmglobal.com.au/releases/latest-podcast-episode-bouncing-forward-from-business-disruptionsLatest podcast episode: Bouncing ‘forward’ from business disruptions2024-03-23T13:02:14.816544+00:00unspecified<![CDATA[<p>When an unexpected event derails your business, you must be ready to bounce back. That’s resilience. Our guest, from Germany’s acclaimed Fraunhofer Society, proposes doing even better: bouncing forward and emerging from crisis better than you started.</p>
<p><a class="btn btn-pink round-icon" href="https://anchor.fm/fmglobal/episodes/Why-not-bounce-forward-from-business-disruptions-e17m276" rel="" target="_blank" title="Listen now">Listen now</a></p>
]]>When an unexpected event derails your business, you must be ready to bounce back. That’s resilience. Our guest, from Germany’s acclaimed Fraunhofer Society, proposes doing even better: bouncing forward and emerging from crisis better than you started.2021-09-24T00:16:00+00:00https://newsroom.fmglobal.com.au/releases/commercial-property-insurer-fm-global-appoints-new-chief-officers-of-underwriting-and-client-experienceCommercial property insurer FM Global appoints new chief officers of underwriting and client experience 2024-03-23T13:02:14.854870+00:00unspecified<![CDATA[<p><a href="https://urldefense.com/v3/__http:/www.fmglobal.com__;!!CN7PONKNpoI9!qrNqFDADzrsxppIMQ0nO2dZ1BRGiVwT2o38CK5pn4cTnR8O3yhfDiQuYQ2W75nydMiQ$">FM Global</a>, one of the world’s largest commercial property insurers, has moved two of its senior leaders into new roles.</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Broad Lyndon - nr" author="" class="widget-image" custom_size="true" data-imgheight="225" data-imgwidth="150" file_id="612eac4cb3aed343651f9496" height="225" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20218/Broad+Lyndon+-+nr.JPG" title="Lyndon D. Broad" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Lyndon D. Broad</div>
</div>
<p><a href="https://urldefense.com/v3/__https:/www.linkedin.com/in/lyndon-broad-95668b76/__;!!CN7PONKNpoI9!qrNqFDADzrsxppIMQ0nO2dZ1BRGiVwT2o38CK5pn4cTnR8O3yhfDiQuYQ2W77bGSdik$"><strong>Lyndon D. Broad</strong></a> has been appointed senior vice president, chief underwriting officer and will manage the company’s underwriting and reinsurance functions. He previously was operations senior vice president of FM Global’s Boston operations. He succeeds Randall E. Hodge who was recently promoted to executive vice president, staff insurance operations.</p>
<p>Broad joined the mutual insurance company in 1995 as a loss prevention consultant in Brisbane, Australia. He then undertook various roles in Seattle, Melbourne, Singapore and the United Kingdom before returning to Melbourne, Australia as claims manager. Broad went on to head FM Global’s middle market unit, AFM, in Sydney before being appointed vice president and manager of FM Global’s Australian operations.</p>
<p>Broad has a bachelor’s degree in mechanical engineering from Swinburne University, Melbourne, Australia, and a diploma of loss adjusting from the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Johnson Dave-800x1200" author="" class="widget-image" custom_size="true" data-imgheight="225" data-imgwidth="150" file_id="612eac47b3aed343661f9874" height="225" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20218/Johnson+Dave-800x1200.jpg" title="David M. Johnson" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">David M. Johnson</div>
</div>
<p><a href="https://urldefense.com/v3/__https:/www.linkedin.com/in/david-johnson-81a9887a/__;!!CN7PONKNpoI9!qrNqFDADzrsxppIMQ0nO2dZ1BRGiVwT2o38CK5pn4cTnR8O3yhfDiQuYQ2W7EJ_VOs8$"><strong>David M. Johnson</strong></a> has been named senior vice president, chief client experience officer and will oversee client experience, market relations, marketing and the company’s business risk consulting group. Most recently, he was operations senior vice president of FM Global’s Atlanta operations.</p>
<p>Since joining the company in 1990, Johnson has held various positions in FM Global’s Seattle branch office, Dallas operations, Stockholm branch and Singapore. A specialist in forest products risk management, he started his career as a loss prevention consultant and moved on to assume numerous engineering, client service, operations and management roles of increasing responsibility including regional senior vice president and manager of FM Global’s Asia operations.</p>
<p>Johnson, who holds a bachelor’s degree in civil engineering from Montana State University, succeeds George J. Plesce, who recently was named executive vice president, U.S., Latin America and sales.</p>
<p><strong>About FM Global</strong></p>
<p>Established nearly two centuries ago, 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. These 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 hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.<br />
</p>
<p>###</p>
]]>FM Global, one of the world’s largest commercial property insurers, has moved two of its senior leaders into new roles.2021-08-30T22:23:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-andrea-garske-named-to-insurance-business-magazines-elite-women-listFM Global’s Andrea Garske named to Insurance Business magazine’s ‘Elite Women’ list2024-03-23T13:02:14.887990+00:00unspecified<![CDATA[<div class="textImage textImage-right" style="float: right; width: 360px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="FM Global -Andrea Garske" author="" class="widget-image" custom_size="false" data-imgheight="257" data-imgwidth="360" file_id="60fa0ab2b3aed30fb5e8bbf7" height="257" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/60fa0ab2b3aed30fb5e8bbf7_FM+Global+-Andrea+Garske/FM+Global+-Andrea+Garske_mid.jpg" title="" width="360" /></div>
<p><a href="https://www.insurancebusinessmag.com/au/special-reports/elite-women-in-insurance-2021/andrea-garske-fm-global-260515.aspx">Andrea Garske</a>, vice president, operations claims manager at commercial property insurer FM Global, has been recognised by <em>Insurance Business </em>magazine as one of the foremost female leaders in Australia’s insurance industry by being named to its 2021 Elite Women in Insurance list.</p>
<p><a href="https://www.insurancebusinessmag.com/au/special-reports/elite-women-in-insurance-2021-260316.aspx">Elite Women in Insurance 2021</a> highlights “women who are not just going above and beyond for their clients and organisations, but are championing diversity in every sense. They’re also giving back to the community and to the industry, innovating and driving change, fostering young talent, and striving for professional excellence.”</p>
<p>It goes on to say that Andrea “is one of a small handful of women at the top of the complex claims sector, and she is using that platform to be an agent of change.” It adds that women who make the list are “innovating, offering top-quality service to clients and pushing the industry as a whole to perform at its best. But perhaps their most important contribution is paving the way for the next generation of female leaders and carving out a future that finds strength in diversity.”</p>
<p>Garske has worked at FM Global for more than 20 years. She was appointed claims manager for Australia and New Zealand in 2016. She leads a team of in-house loss adjusters, handling clients losses across a diverse range of industries, including power generation, mining, chemical, universities, real estate and retail.</p>
<p>In 2020, for a third consecutive year, Garske’s claims team won a <a href="https://newsroom.fmglobal.com.au/releases/fm-global-awarded-a-mansfield-award-for-claims-excellence-in-corporate-property-insurance-for-a-third-consecutive-year">Mansfield Award</a> for excellence in corporate property insurance claims service.</p>
]]>Andrea Garske, vice president, operations claims manager, has been recognised by Insurance Business magazine as one of the foremost female leaders in Australia’s insurance industry by being named to its 2021 Elite Women in Insurance list.2021-07-22T22:34:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-expands-its-executive-leadership-team FM Global expands its executive leadership team2024-03-23T13:02:14.931918+00:00unspecified<![CDATA[<p>FM Global, one of the world’s largest commercial property insurers, is making key changes to its executive management team, as it moves seasoned leaders within the company into newly created roles.</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Image of Brett Ahnell" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="60f9f853b3aed30fb6e8c4cf" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/AhnellBret_s.jpg" title="Bret N. Ahnell, chief operating officer" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Bret N. Ahnell, chief operating officer</div>
</div>
<p><strong>Bret N. Ahnell,</strong> executive vice president and a 34-year veteran of the company, has been named chief operating officer and will run insurance operations globally. He has previously managed FM Global’s staff operations and most recently its Americas operations. He joined the company in 1987 as a loss prevention consultant in Los Angeles, California, USA, and advanced to hold various positions, including district manager and operations manager. Prior to his current role, he was senior vice president, Western division manager. Ahnell holds a Bachelor of Science degree from the University of Arizona in mechanical engineering and has a CPCU designation. He will report to Malcolm C. Roberts, who was recently named president, effective Aug. 1, 2021.</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Image of Kevin Ingram" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="60f9f85cb3aed30fb2e8acc4" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/IngramKevin_s.jpg" title="Kevin S. Ingram, sr. executive vice president and chief financial officer" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Kevin S. Ingram, sr. executive vice president and chief financial officer</div>
</div>
<p><strong>Kevin S. Ingram,</strong> executive vice president and chief financial officer, a 31-year veteran of the company, has been promoted to senior executive vice president and chief financial officer. He will continue to oversee all finance and risk management operations at the company in addition to other corporate functions. He began his career in 1990 as an associate controller in the company and has held various positions including treasurer, finance director and senior vice president, finance. Ingram joined the company after working as a senior manager in the insurance audit group at Ernst & Young, LLP in Chicago, Illinois, USA. He holds a bachelor’s degree from Northern Illinois University in DeKalb, Illinois, and is a certified public accountant (CPA). He will report to Malcolm C. Roberts, president, effective Aug. 1, 2021.</p>
<p><strong>The following appointments will be effective Sept. 1, 2021:</strong></p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Image of Deanna Fidler" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="60f9f856b3aed30fb5e8bbe9" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/FidlerDeanna_s.jpg" title="Deanna Fidler, executive vice president, chief administrative officer" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Deanna Fidler, executive vice president, chief administrative officer</div>
</div>
<p><strong>Deanna Fidler</strong>, senior vice president, chief human resources officer, will become executive vice president, chief administrative officer, based in FM Global’s corporate offices in Johnston, Rhode Island, USA. Fidler will oversee human resources, diversity and inclusion, strategy and business enablement, technology, and the FM Global Academy. Fidler joined the company in 2018. Previously, she was chief human resource officer for T. Rowe Price in Baltimore, Maryland, USA, where she was responsible for diversity and inclusion, associate communications and corporate social responsibility. She also held leadership roles at Aetna, including chief human resources officer, head of talent management and head of HR business partners. Fidler holds a Bachelor of Science degree in business from the University of Central Missouri. She will report to Malcolm C. Roberts, president.</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Image of Randall Hodge" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="60f9f859b3aed30fa9e8aa75" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/HodgeRandy_s.jpg" title="Randall E. Hodge, executive vice president, staff insurance operations" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Randall E. Hodge, executive vice president, staff insurance operations</div>
</div>
<p><strong>Randall E. Hodge</strong>, senior vice president, chief underwriting officer, will be promoted to executive vice president, staff insurance operations. Hodge, a 31-year veteran of the company, will be based in FM Global’s corporate offices in Johnston, Rhode Island, USA, and have oversight of underwriting and reinsurance, engineering and research, FM Approvals, claims, client service and marketing, as well as data analytics. Hodge joined the company in 1990, and has served as field engineer, group manager field engineering, account manager, assistant client service manager, client service manager and Atlanta operations manager. Prior to joining FM Global, Hodge worked for The Walt Disney Company. He holds bachelor’s and master’s degrees in electrical engineering from California State University (California, USA), and is a Professional Engineer (P.E.) in fire protection engineering. Hodge will report to Malcolm C. Roberts, president.</p>
<div class="textImage textImage-caption textImage-right" style="float: right; width: 150px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Image of George Plesce" author="" class="widget-image" custom_size="false" data-imgheight="150" data-imgwidth="150" file_id="60f9f85fb3aed30fb3e8af83" height="150" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/PlesceGeorge_s.jpg" title="George J. Plesce, executive vice president, U.S., Latin America and sales" width="150" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">George J. Plesce, executive vice president, U.S., Latin America and sales</div>
</div>
<p><strong>George J. Plesce</strong>, senior vice president, chief client experience and sales officer, has been named executive vice president, U.S., Latin America and sales, with oversight of regional insurance and engineering operations and global business development. He will be based in FM Global’s corporate offices in Johnston, Rhode Island, USA. A 30-year veteran of the company, Plesce joined the company in 1991 as a senior account representative in FM Global’s office in Malvern, Pennsylvania, USA, where he held various positions in sales. He also served as vice president, client service manager and as vice president, operations manager for Washington, D.C., USA, operations. Plesce holds a Bachelor of Science degree in marketing from Juniata College in Pennsylvania. He will report to Bret N. Ahnell, chief operating officer.</p>
<p>In addition to these appointments,<strong> James R. Galloway</strong> continues as executive vice president, with oversight of FM Global’s international operations and AFM, a division that provides commercial property insurance for the middle market. He also assumes responsibility for FM Global’s Canada and specialty industries division. He will report to Bret N. Ahnell, chief operating officer.</p>
<p style="text-align: center;">###</p>
]]>FM Global is making key changes to its executive management team, as it moves seasoned leaders within the company into newly created roles2021-07-22T22:05:00+00:00https://newsroom.fmglobal.com.au/releases/commercial-property-insurer-fm-global-appoints-malcolm-c-roberts-as-presidentCommercial property insurer FM Global appoints Malcolm C. Roberts as president2024-03-23T13:02:14.975172+00:00unspecified<![CDATA[<div class="textImage textImage-caption textImage-right" style="float: right; width: 240px; margin: 10px 10px 10px; font-size: 90%; font-style: italic;"><img align="right" alt="Malcolm_Roberts -FM Global" author="" class="widget-image" custom_size="false" data-imgheight="360" data-imgwidth="240" file_id="60e87e6ab3aed3111f14ecf9" height="360" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20216/60e87e6ab3aed3111f14ecf9_Malcolm_Roberts+-FM+Global/Malcolm_Roberts+-FM+Global_mid.jpg" title="Malcolm C. Roberts" width="240" />
<div class="textImage-captionBody" style="padding: 3px 0px; clear: both;">Malcolm C. Roberts</div>
</div>
<p>FM Global, one of the world’s largest commercial property insurers, today announced that Executive Vice President Malcolm C. Roberts has been appointed president and elected to the company’s board of directors, effective Aug. 1, 2021. He will succeed Thomas A. Lawson as chief executive officer, effective Jan. 1, 2022.</p>
<p>Roberts joined the mutual insurance company in 1995 as a loss prevention consultant in London after working as a chemical engineer. He has held a variety of management roles within the company across the globe and was appointed to his current position in 2018. As president, he will be responsible for the strategic and operational direction of the company, which insures nearly US$10.2 trillion in business property in more than 130 countries.</p>
<p>Lawson will retire on Dec. 31, 2021, after 42 years with the company and will remain chairman of FM Global’s board of directors. He became CEO in 2015. Since that time, Lawson has helped the company grow from US$5.6 billion to US$7.4 billion in annual revenue and from US$11 billion to US$18.4 billion in policyholders’ surplus.</p>
<p>“This is an exciting step in the future direction of the company,” said Lawson. “Malcolm has the right balance of leadership skills and vision, intrinsic understanding of our corporate culture, comprehensive insight into our clients’ complex needs as well as extensive industry knowledge and experience. That, combined with FM Global’s enduring business model solely focused on property risk management and the resilience of our policyholders, will ensure the continued success we share with our client-owners.”</p>
<p><strong>About FM Global</strong><br />
Established nearly 200 years ago, <a href="http://www.fmglobal.com/" target="_blank">FM Global</a> is a mutual insurance company whose policyholders share the belief that the majority of property loss is preventable and represent many of the world’s largest organizations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions based on the company’s scientific research capability, engineering expertise and insurance protection.</p>
<p align="center">###</p>
]]>FM Global today announced that Executive Vice President Malcolm C. Roberts has been appointed president and elected to the company’s board of directors, effective Aug. 1, 2021.2021-07-07T14:00:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-earns-outstanding-achievement-award-from-hurricane-conferenceFM Global Earns ‘Outstanding Achievement Award’ from Hurricane Conference2024-03-23T13:02:15.011410+00:00unspecified<![CDATA[<p>FM Global has received a 2021 “Outstanding Achievement Award” from the <a href="https://urldefense.com/v3/__https:/hurricanemeeting.com/__;!!CN7PONKNpoI9!rT70DDAiHQtskb9qFhQ8OD9nX3alEL7hb6XF0T1lUnGU15tnVlugcdI4wrqHNitjsd8$">National Hurricane Conference</a> (NHC) in USA for its online and interactive <a href="https://urldefense.com/v3/__https:/risk.fmglobal.com/tropical-storm/p/1__;!!CN7PONKNpoI9!rT70DDAiHQtskb9qFhQ8OD9nX3alEL7hb6XF0T1lUnGU15tnVlugcdI4wrqHojB-jJw$">Hurricane, Typhoon and Cyclone Loss Control Center</a>.</p>
<p>According to the NHC, the award highlights “individuals or organisations who're doing things in a new or better way and which are worthy of emulation by others around the country.” They characterized the web-based Centre as an “innovative program to help guide and educate global business leaders as they consider ways to help prevent loss from hurricanes and similar hazards.” Nearly 19,000 people have visited the site since its launch at the start of the 2020 hurricane season.</p>
<p>“Climate resilience is a choice business leaders can make,” said Jessica Waters, staff vice president, senior engineering technical specialist, natural hazards, at FM Global. “Losses stemming from extreme weather, rising climate-related property risks, increased urbanization in harm’s way and supply chains extending into exposed areas, are largely preventable. We appreciate the National Hurricane Conference for recognising the Centre and helping spread the word.”</p>
<p>FM Global’s Hurricane, Typhoon and Cyclone Loss Control Centre is tailored to business leaders who are preoccupied with other day-to-day concerns. It makes it quick, easy and appealing for visitors to educate themselves about resilience strategies that can protect their business, brand, market share and overall value. The centre includes video, quizzes and choose-your-own-narrative features to make for an engaging and impactful experience. These techniques put the visitor in the decision-maker’s shoes, illustrating what is at stake – a business’s very viability.</p>
]]>FM Global's online and interactive Hurricane, Typhoon and Cyclone Loss Control Center helps guide and educate global business leaders as they work to prevent loss from extreme weather.2021-06-17T04:55:00+00:00https://newsroom.fmglobal.com.au/releases/nsw-emergency-services-levy-6843047NSW EMERGENCY SERVICES LEVY2024-03-23T13:02:15.055984+00:00unspecified<![CDATA[<p>The ESL provides funding for the NSW fire and emergency services which is currently collected through a levy on insurance policies.</p>
<p>In light of continued premium growth and a reduced contribution target (largely due to lower-than-expected workers compensation premiums), FM Global has estimated that to meet the funding obligations to the fire and emergency services a<strong> rate of 24.5% will need to be applied to all assessable NSW premiums effective 30 JUN 2021. </strong></p>
<p>The rate will be reviewed periodically and may vary in future in response to revised Brigade budget expectations, revised industry insurance premium pool estimates, and other factors arising from the NSW government’s decision to reinstate the insurer ESL.</p>
]]>The fire and emergency services rate of 24.5% will need to be applied to all assessable NSW premiums effective 30 JUN 20212021-05-28T05:42:00+00:00https://newsroom.fmglobal.com.au/releases/australia-ranks-as-one-of-the-most-resilient-countries-globally-as-it-rebounds-from-covid-19Australia ranks as one of the most resilient countries globally as it rebounds from COVID-192024-03-23T13:02:15.112983+00:00unspecified<![CDATA[<p>After a year of supply chain disruption, political tensions and growing climate worries, resilience has become a prized commodity for business leaders and it’s more prevalent in some places than others. Australia is one such country, ranking 14<sup>th</sup> overall out of 130 countries and territories in the newly released <a href="https://www.fmglobal.com.au/research-and-resources/tools-and-resources/resilienceindex">2021 FM Global Resilience Index</a>, the definitive ranking of nations by the resilience of their business environments.</p>
<div class="textImage textImage-inline" style="display: inline; font-size: 90%; font-style: italic;"><img align="none" alt="Screen capture - 2021 Index" author="" class="widget-image" custom_size="false" data-imgheight="500" data-imgwidth="700" file_id="60b081b1b3aed342c248702a" height="500" src="https://s3.amazonaws.com/cms.ipressroom.com/345/files/20214/Screen+capture+-+2021+Index.jpg" title="" width="700" /></div>
<p>Produced by FM Global, one of the world’s largest commercial property insurers, the Resilience Index provides a composite picture of 12 objective measures reflecting each country or territory’s economic, risk quality and supply chain conditions. The resource helps senior executives create, evaluate and manage resilient multinational businesses by providing additional datapoints for consideration about site selection, partnerships and geographic markets.</p>
<p>Australia’s overall rank is due in part to its strong economic <em>productivity</em> (ranked 20) and low <em>political risk</em> (ranked 10), two key drivers of resilience that, along with other measures in the index, may foreshadow the vigour of the country’s rebound from COVID-19.</p>
<p>Lynette Schultheis, operations manager, FM Global Australia, says, “The pandemic brought many businesses to a standstill and caused significant business disruption and interruption. While we are well on our way to economic recovery in Australia, the events from last year brought into sharp relief that resilience must be embedded into all facets of a business so that it provides the ability to resist, rebound from or operate through adverse circumstances from lockdowns to climate-related and supply-chain disruptions.”</p>
<h2><strong>Climate risk and resilience in the global supply chain </strong></h2>
<p>Australia’s overall rank in the Index was held back due to its <em>natural hazard exposure</em> (ranked 49) which sits in the middle of the second quartile. This measure represents the percentage of a country’s economic activity that is exposed to at least one natural hazard such as wind, flood or earthquake.</p>
<p>The country’s strong <em>natural hazard risk quality</em> (ranked 16) reflects the quality and enforcement of the country’s building codes with respect to natural hazard resistant design, as well as the level of natural hazard risk improvement achieved. This measure is critically important for businesses with operations located in regions affected by natural hazards such as cyclones, floods and bushfires.</p>
<p>Where natural hazard risk quality may be of particular concern is for the many local businesses who have supply chains that extend into neighbouring countries across the Asia Pacific – many of which are exposed to natural hazards and the changing climate. Popular trading partners with notable room for improvement, in regard to their natural hazard risk quality, include Hong Kong (ranked 41), Taiwan (ranked 50), Malaysia (ranked 57), Indonesia (ranked 61), Thailand (ranked 62), India (ranked 67), Bangladesh (ranked 68) and Vietnam (ranked 130).</p>
<p>Australia’s largest trading partner, China (which is subdivided into three ranked regions because its geographical spread includes disparate exposures to natural hazards such as wind, flood and earthquake), ranked 91 across each region for its natural hazard risk quality. </p>
<p>“As many companies extend their supply chains across the region in the pursuit of reduced costs and improved competitiveness, they must also take into account the natural hazard exposure and risk of where their key suppliers are located. For example, Thailand experienced significant rainfall and flooding earlier this year across much of the southern region of the country which brought many businesses to a standstill. The impact was not only felt across the country but for those businesses who operated extended supply chains in the region. It’s essential that businesses take into consideration all of the potential risk factors involved with its business partners and country-level resilience is a critical part of that,” Schultheis adds.</p>
<h2><strong>Top 3, bottom 3 countries</strong></h2>
<p>Top-ranked <strong>Denmark</strong> is known for its quality of life, education, health care and income equality. In this year’s Index, it benefits from higher resilience rankings than last year in the measures for economic productivity, fire risk quality and oil intensity (signifying increased vulnerability to oil shock).</p>
<p>The Scandinavian nation’s rise bumps <strong>Norway</strong> into the number two spot, which previously held the top position in the Index in recent years.</p>
<p><strong>Luxembourg</strong> rounds out the top three countries in overall business resilience, with Western Europe taking nine of the top 10 places. The <strong>Central United States</strong> is the lone exception, occupying ninth place as it did last year.</p>
<p><strong>Iran</strong> for the first time entered the bottom three ranks with a 14-place drop in productivity and a 7-place drop in political risk rank. <strong>Venezuela</strong>, second to last, and <strong>Haiti</strong>, last, round out the bottom three countries.</p>
]]>Historically disruptive year spotlights the true value of business resilience in the 2021 FM Global Resilience Index2021-05-24T05:18:00+00:00https://newsroom.fmglobal.com.au/releases/fm-global-donates-65-000-to-help-flood-affected-communitiesFM Global donates $65,000 to help flood-affected communities 2024-03-23T13:02:15.182120+00:00unspecified<![CDATA[<p class="paragraph"><span class="normaltextrun"><span>Barely a year since the destructive bushfires ravaged the nation and the ongoing difficulties and uncertainties brought by COVID-19, Australia is grappling with yet another challenge. </span></span><span class="eop"><span> </span></span><span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>Large parts of the country were recently hit by the worst floods in decades as heavy rain battered Queensland and New South Wales regions. </span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>In response to the devastating floods, which submerged properties and forced the evacuation of some 40,000 people, the FM Global Foundation will donate US$50,000 (AU$65,000) to three charities. </span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>The organisations were chosen by FM Global Operations Manager for Australia, Lynette Schultheis and her team. </span></span><span class="eop"><span></span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>“We regret the circumstances that create this need but are proud to support each of these incredible organisations who are helping communities across Australia affected by the floods,” said Schultheis. “These donations will help people get back on their feet during this significantly difficult time.” </span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>FM Global picked the following local non-profit organisations in Australia: </span></span><a href="https://www.givit.org.au/"><span>GIVIT</span></a><span class="normaltextrun"><span>, </span></span><a href="https://www.redcross.org.au/"><span>Australian Red Cross</span></a><span class="normaltextrun"><span>, and the </span></span><a href="https://frrr.org.au/"><span>Foundation for Rural Regional Renewal</span></a><span class="normaltextrun"><span>.</span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>These charities are mobilising to help people affected by providing humanitarian relief to communities and delivering support to remote and regional areas affected by the storms.</span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>FM Global’s largest donation went to GIVIT, which is working with the New South Wales and Queensland Governments to help people whose properties have been left uninhabitable and who have lost their livelihoods. </span></span><span class="eop"><span> </span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>Additionally, the company will double-match contributions made by FM Global employees to the charities until May 31, 2021.</span></span><span class="eop"><span> </span></span><span></span></p>
<p class="paragraph"><span class="normaltextrun"><span>“These donations speak to our culture as a mutual company, which revolves around the idea that, wherever possible, we always want to help the wider community and support people in need,” said Schultheis.</span></span><span class="eop"><span> </span></span><span></span></p>
]]>Barely a year since the destructive bushfires ravaged the nation and the ongoing difficulties and uncertainties brought by COVID-19, Australia is grappling with yet another challenge.2021-04-20T05:31:00+00:00https://newsroom.fmglobal.com.au/releases/fm-globals-a+-superior-financial-strength-rating-affirmed-by-am-bestFM Global’s A+ (Superior) financial strength rating affirmed by AM Best 2024-03-23T13:02:15.226520+00:00unspecified<![CDATA[<p><span style="font-size:16px;"><a href="https://www.fmglobal.com/" rel="" target="" title="">FM Global</a>, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from . The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.</span></p>
<p><span style="font-size:16px;">The insurance ratings company indicated “the rating reflects FM Global’s balance sheet strength, which AM Best categorises as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.”</span></p>
<p><span style="font-size:16px;">It noted that FM Global has “a history of protecting its policyholders” as a “leading global property insurer with a balance sheet that has demonstrated an ability to withstand catastrophes year-over-year.” It cited that in 2017 and 2018, for example, FM Global’s actual catastrophe losses approximated half of modeled losses in most cases, due to the company’s “superior knowledge of (client) risks and expedient settlement of claims.”</span></p>
<p><span style="font-size:16px;">“FM Global reinvests heavily in its engineering-based approach,” the ratings agency remarked, “and is an innovator in contributing to the industry’s loss control and minimisation through flood mapping and modeling internationally, as well as in cyber risk assessment.”</span></p>
<p><span style="font-size:16px;">AM Best also highlighted that “FM Global has a very unique market position and business profile” given it’s a mutual company and a monoline commercial property insurer with “a singular focus on its specialty expertise.” That “enable(s) its management to take a longer-term view of running its business and to manage…large commercial property risks.”</span></p>
<p><span style="font-size:16px;">FM Global is also<a href="https://www.fmglobal.com/about-us/our-business/financial-health" rel="" target="" title=""> </a><a href="https://urldefense.com/v3/__https:/www.fmglobal.com/about-us/our-business/financial-health__;!!CN7PONKNpoI9!qfJL7VxK9mEqKALDyWsZ5__y5oPk4WsRLKkyQhmFzEIdhqXBi_PkvFo58Kq9_-Dcv9w$">rated ‘AA’ (Very Strong) by Fitch and ‘A+’ by S&P Global Ratings</a><a href="https://www.fmglobal.com/about-us/our-business/financial-health" rel="" target="" title="">.</a></span></p>
<p><span style="font-size:16px;"><strong>About FM Global</strong><br />
Established nearly 200 years ago, 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. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.</span></p>
]]>FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best.2021-01-12T21:35:00+00:00https://newsroom.fmglobal.com.au/releases/premier-foods-plc-chairman-colin-day-elected-to-the-board-of-directors-of-commercial-property-insurer-fm-globalPremier Foods plc chairman Colin Day elected to the board of directors of commercial property insurer FM Global2024-03-23T13:02:15.269355+00:00unspecified<![CDATA[<div><span style="font-size:16px;">Colin Day, chairman of Premier Foods plc, one of Britain’s largest food manufacturers, has been elected to the board of directors of commercial property insurer FM Global. FM Global’s board comprises executives from the world’s most sophisticated manufacturing, distribution and service organisations. Day previou<span style="font-family:arial,helvetica,sans-serif;"></span>sly served on FM Global’s board when he was chief executive of Essentra plc.</span></div>
<div> </div>
<div><span style="font-size:16px;"></span></div>
<div><span style="font-size:16px;">Established nearly two centuries ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organisations, including one of every three Fortune 1000 companies. </span></div>
<div> </div>
<div><span style="font-size:16px;"></span></div>
<div><span style="font-size:16px;">“Colin Day’s vast background in international operations, corporate strategy and finance will continue to help FM Global effectively advance its mission to make our client-owners more resilient,” said Thomas A. Lawson, chairman and chief executive officer, FM Global. “We’re pleased to have him return to our board of directors and represent our policyholders.”</span></div>
<div><span style="font-size:16px;"></span></div>
<div><span style="font-size:16px;">Day was named Premier Foods’ chairman in August 2019 after retiring as chief executive of Essentra plc in 2017. </span></div>
<div> </div>
<div><span style="font-size:16px;">Previously, he was chief financial officer at Reckitt Benckiser plc for more than a decade and was instrumental in merger and acquisition activity as well as the development of group strategy. Before that, he held a range of senior financial and operational positions at a variety of companies. Day is a Fellow of the Association of Chartered Certified Accountants and has an MBA from Cranfield School of Management, UK.</span></div>
<div> </div>
<div><span style="font-size:16px;"></span></div>
<div><span style="font-size:16px;">Other members of FM Global’s board of directors include:</span></div>
<div>
<ul>
<li><span style="font-size:16px;">Frank T. Connor, executive vice president and chief financial officer, Textron Inc. </span></li>
<li><span style="font-size:16px;">Michel Giannuzzi, chairman and chief executive officer, Verallia Packaging SA </span></li>
<li><span style="font-size:16px;">Daniel L. Knotts, president and chief executive officer, RR Donnelley </span></li>
<li><span style="font-size:16px;">Glenn R. Landau, former executive vice president and chief financial officer, Mohawk Industries Inc. </span></li>
<li><span style="font-size:16px;">Thomas A. Lawson, chairman and chief executive officer, FM Global </span></li>
<li><span style="font-size:16px;">John A. Luke Jr., chairman, WestRock Company </span></li>
<li><span style="font-size:16px;">Gracia C. Martore, retired president and chief executive officer, TEGNA Inc. </span></li>
<li><span style="font-size:16px;">Christine M. McCarthy, senior executive vice president and chief financial officer, The Walt Disney Company </span></li>
<li><span style="font-size:16px;">Stuart B. Parker, retired chief executive officer, USAA </span></li>
<li><span style="font-size:16px;">Israel Ruiz, founding chairman of the Massachusetts Institute of Technology’s (MIT) The Engine, former executive vice president and treasurer, MIT </span></li>
<li><span style="font-size:16px;">David T. Walton, president and chief executive officer, Caterpillar Financial Services Corporation</span></li>
</ul>
</div>
]]>Colin Day, chairman of Premier Foods plc, one of Britain’s largest food manufacturers, has been elected to the board of directors of commercial property insurer FM Global.2021-01-12T21:30:00+00:00