Factory Mutual Insurance Company: Everything You Need to Know

Factory Mutual Insurance Company, also known as FM Global, is a mutual insurance company that provides property insurance and risk management services to businesses worldwide. Founded in 1835, it is headquartered in Johnston, Rhode Island, and has offices in over 100 countries.

History of FM Global

FM Global was founded as the Manufacturers Mutual Fire Insurance Company in 1835 by Zachariah Allen, a prominent businessman in Providence, Rhode Island. It was created to provide fire insurance to manufacturers, which were seen as high-risk businesses at the time.

Over the years, the company expanded its offerings to include a wide range of property insurance and risk management services. In 1999, it changed its name to Factory Mutual Insurance Company to reflect its global reach and diverse customer base. Today, FM Global is one of the largest commercial and industrial property insurers in the world.

Services Offered by FM Global

FM Global offers a variety of property insurance and risk management services to businesses in a wide range of industries. Some of its most popular services include:

Property Insurance

FM Global provides property insurance coverage for a wide range of risks, including fire, natural disasters, and equipment breakdown. Its insurance policies are designed to cover the unique risks faced by businesses in different industries, from manufacturing and construction to healthcare and technology.

Loss Prevention Engineering

FM Global’s loss prevention engineers work with businesses to identify and mitigate potential risks before they occur. This includes everything from identifying fire hazards to assessing the structural integrity of buildings and equipment.

Claims Management

In the event that a business experiences a loss, FM Global’s claims management team works quickly to manage the claim and get the business back up and running as soon as possible. This includes providing funding for repairs and working with businesses to implement loss prevention measures to prevent future losses.

Why Choose FM Global?

There are several reasons why businesses choose to work with FM Global for their property insurance and risk management needs. Some of the key benefits of choosing FM Global include:

Focus on Loss Prevention

FM Global’s focus on loss prevention sets it apart from many other insurance companies. By working closely with businesses to identify and mitigate potential risks, FM Global helps businesses minimize the likelihood of losses occurring in the first place.

Global Reach

FM Global has offices in over 100 countries, making it a popular choice for businesses with international operations. Its global reach means that it can provide consistent coverage and risk management services to businesses no matter where they are located.

Financial Stability

As a mutual insurance company, FM Global is owned by its policyholders rather than by shareholders. This means that its focus is on providing long-term value to its policyholders rather than maximizing profits for shareholders. It also means that the company is financially stable and has a strong track record of paying claims.

Frequently Asked Questions About FM Global

The Bottom Line

For businesses looking for comprehensive property insurance and risk management services, FM Global is a top choice. With its focus on loss prevention, global reach, and financial stability, FM Global provides businesses with the peace of mind they need to focus on growing and expanding their operations.