In this review, we’ll take a closer look at FM Global Insurance, analyzing its history, offerings, reputation, and much more. Whether you’re considering them for business or property insurance, this blog post provides a comprehensive evaluation of what FM Global offers and how they stand out in the insurance industry.

🔹 Basic Company Overview

Key Aspect	Details
Full Company Name	FM Global Insurance
Year Founded	1835
Founders	William Henry Greene
Headquartered Location	Johnston, Rhode Island, USA
Company Mission Statement	“To help our clients achieve business continuity by providing superior property risk management solutions.”
Vision and Core Values	Vision: To be the leading global provider of property insurance and risk management services. Core Values: Integrity, Accountability, Excellence, Collaboration.
Parent Company	None (Independent company)
Subsidiaries	Several international offices and partnerships across North America, Europe, and Asia.
Number of Employees	5,000+ employees
Revenue (latest available)	$5.5 billion (2020)
Global or Regional Presence	Global presence, operating in over 100 countries.
Public or Private Company	Private
Stock Market Symbol	Not publicly traded

🔹 Company Reputation & Recognition

Customer Satisfaction Ratings: FM Global Insurance has a solid reputation for delivering high-quality property insurance and effective risk management. Customers consistently report satisfaction with their personalized service and expertise in property risk.
AM Best / Moody’s / S&P Ratings:
- AM Best: A (Excellent) rating, reflecting the company’s strong financial stability and capacity to meet ongoing insurance obligations.
- Moody’s: Not rated.
- S&P: Not rated.
Industry Awards and Recognitions: FM Global has received numerous awards for its risk management strategies and property insurance services, including recognition from Business Insurance and other industry leaders.
Trustpilot or Google Reviews Overview: Reviews from customers generally highlight the company’s responsiveness and knowledgeable staff. Some customers have raised concerns about pricing adjustments over time.
BBB Rating: A+ rating, which demonstrates FM Global’s commitment to customer satisfaction and resolving complaints promptly.
Notable Partnerships or Endorsements: FM Global Insurance works with many large corporations and has partnerships in industries like technology, manufacturing, and energy.

🔹 Eligibility Criteria

Who is Eligible: Businesses and organizations of various sizes, particularly those requiring property insurance and risk management.
Age Limitations: N/A (Eligibility for property insurance doesn’t depend on age but rather on business requirements).
State Availability: FM Global offers services in all 50 states and globally.
Citizenship or Residency Requirements: Businesses must be based in the U.S. or other countries where FM Global Insurance operates.
Minimum Health or Financial Conditions: No specific health requirements; businesses must meet certain financial stability criteria for large property insurance policies.
Documents Required to Apply: Proof of business ownership, property assessments, and financial documents.

🔹 Types of Insurance Offered

Life Insurance: Not offered.
Auto Insurance: Not offered.
Health Insurance: Not offered.
Homeowners Insurance: Not available (focuses on commercial property).
Renters Insurance: Not available (focuses on business properties).
Disability Insurance: Not offered.
Long-term Care Insurance: Not offered.
Travel Insurance: Not available.
Business/Commercial Insurance: FM Global specializes in commercial property insurance, business interruption, and risk management for large organizations.
Pet Insurance: Not offered.
Boat/Motorcycle/RV Insurance: Not available.
Umbrella Insurance: Not offered.

🔹 Plan Details

Plan Categories: Commercial property insurance plans are tailored, with options for small, medium, and large businesses.
Policy Terms and Conditions: Policies generally run on annual renewals.
Waiting Periods: Some policies may have waiting periods for business interruption coverage.
Coverage Limits: Coverage limits vary, but large commercial properties can be insured for amounts in excess of $1 billion.
Exclusions and Restrictions: Standard exclusions for events such as flooding (though this can be covered separately).
Add-ons or Riders Available: Offers riders for business interruption, property damage, and natural disaster coverage.
Premium Payment Options: Premiums can be paid monthly, quarterly, or annually.
Discounts Offered: Discounts for multi-policy bundling, safety protocols, and property risk management.

🔹 Application Process

How to Apply: Apply through agents, online, or via phone.
Time Required for Approval: Typically takes 1-2 weeks for approval after submission of necessary documents and assessments.
Medical Exams (if any): Not applicable as FM Global Insurance specializes in property insurance.
Online Quote Tools: Available for obtaining preliminary quotes for commercial property insurance.
Pre-approval or Instant Policy Options: Available for small business properties; larger policies may require more detailed underwriting.

🔹 Claims Process

How to File a Claim: Claims can be filed online, through the mobile app, or by phone.
Time Taken to Settle Claims: Claims are typically settled within 7-10 business days, depending on complexity.
Required Documents for Claims: Property damage reports, financial documents, and business interruption logs.
Claim Denial Reasons: Claims may be denied for misrepresentation, lack of coverage, or failure to meet policy conditions.
24/7 Claim Support Availability: 24/7 support available through phone, app, or website.
Mobile App or Online Claim Tracking: Claims can be tracked in real-time via the FM Global mobile app.

🔹 Customer Support

Contact Methods: Phone, email, live chat, and mobile app support.
Office Hours: Monday through Friday, 8 AM – 5 PM EST.
Mobile App Features: File and track claims, manage policies, view insurance details.
Local Agents or Offices Availability: Available in multiple locations globally.
Multilingual Support: Available in English and Spanish.

🔹 Financials & Legal

Underwriting Company: FM Global handles its underwriting internally for commercial property coverage.
Regulatory Compliance: Complies with U.S. state regulations and international standards for property insurance.
Licensing State-wise: Licensed in all 50 states in the U.S. and across several international jurisdictions.
Claim Payout Statistics: High payout ratio—claims are typically paid out quickly once verified.
Recent Legal Issues or Lawsuits: No significant ongoing lawsuits.

🔹 Technology and Innovation

AI or Machine Learning Use: Uses AI and machine learning to streamline the underwriting and claims process, especially in risk analysis and fraud detection.
Mobile App Rating and Features: The FM Global app has an average rating of 4.5 stars. It allows for claims filing, policy management, and real-time claim tracking.
Digital Policy Management: Fully digital policy management available for businesses.
Telematics for Auto Insurance: Not applicable for auto insurance.
Online Tools and Calculators: Premium calculators and risk assessment tools available for businesses.

🔹 Market Position and Competitors

Market Share: Strong presence in commercial property insurance with significant market share in the U.S. and global markets.
Top Competitors: The Hartford, Chubb, AIG.
Comparison with Leading Competitors: FM Global offers specialized property risk management, whereas competitors like AIG and The Hartford have a broader focus on general business insurance.
Unique Selling Points (USPs): FM Global’s expertise in large-scale commercial property insurance, especially for businesses at high risk of property damage.

🔹 Reviews and Testimonials

Real Customer Stories: Businesses value FM Global’s customized risk management solutions, as well as their quick claims process and personalized service.
Complaints and Resolution Rate: 85% of customer complaints are resolved within 30 days.
Social Media Presence and Engagement: Active on LinkedIn, Facebook, and Twitter, with a good level of engagement and customer support.

🔹 Final Evaluation

Pros:

Excellent claims handling and customer service.
Tailored insurance solutions for businesses.
Global presence and local expertise.

Cons:

Limited focus on personal insurance (auto, health, etc.).
Higher premiums for certain high-risk industries.

Who Should Consider This Company:

Businesses that need comprehensive commercial property insurance.
Organizations looking for specialized risk management in high-risk industries.

Who Might Want to Avoid It:

Individuals or small businesses seeking affordable personal insurance.
Those looking for a more general insurance provider.

Expert Recommendations:

FM Global Insurance is highly recommended for large businesses and corporations looking for in-depth property insurance and risk management solutions.

FM Global Insurance Review: In-Depth Overview