FM Global recognized with innovation award

FM Global, an international property insurer, posted 2016 profit growth of 8 percent to $796.8 million compared with a year earlier.
FM Global, an international property insurer, posted 2016 profit growth of 8 percent to $796.8 million compared with a year earlier.

JOHNSTON – An insurance magazine has awarded FM Global with a 2015 Innovation Award for its index that ranks the business resilience of 130 countries and territories.
FM Global is a global mutual insurance company and it received the award from Business Insurance Magazine. The award, published in the magazine’s March 2 edition, was given to FM Global because it showcased “the best new products and services launched over the past year for risk managers,” according to the magazine.
The FM Global ranking system, called the “Resilience Index,” is designed to help executives evaluate and manage supply chain risk. The index is based on three categories: economic, risk quality and supply chain factors, which combined form the composite index, according to the FM Global website.
“If people understand the exposures they face, they’ll make good decisions,” said FM Global CEO Jonathan W. Hall.
Business Insurance reaches more than 150,000 readers responsible for insurance, risk management and finance at their firms. In its March 2 edition it commended FM Global for its Resilience Index, which it says “provides users with country-level insights into the risks and vulnerabilities facing suppliers and customers as well as data to support risk management and business decisions.”

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