FM Global Receives an A+ --Superior-- Rating from A.M. Best.Business/Technology Editors JOHNSTON, R.I.--(BUSINESS WIRE)--March 9, 2000 Commercial and industrial property insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. FM Global has received an A+ rating from A. M. Best, a company whose ratings have become the insurance industry's standard measure of insurer financial performance. The A+ rating recognizes FM Global's superior financial strength, increased capacity, operating performance and market profile and is assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. to companies that, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A.M. Best, "have a very strong ability to meet their ongoing obligations to policyholders." The rating is the first A.M. Best has assigned to FM Global. FM Global is the result of a merger last year of Factory Mutual System companies Allendale Insurance, Arkwright, Protection Mutual Insurance and their jointly-owned engineering and research affiliate Factory Mutual. A.M. Best has indicated the merger "takes advantage of the strengths of the three previous Factory Mutual [System companies], combining their intellectual and economic capital, as well as their superior engineering and loss control expertise." "The entire organization is dedicated to improving operating efficiencies...Cost savings are expected to be made through system enhancements, consolidation of field offices...and a more focused customer-centric approach. In addition, A.M. Best expects the group to post improvements in its loss ratio through effective loss prevention and engineering services, including new and enhanced risk management products." With over 165 years of experience, FM Global is the world's largest insurance and risk management organization specializing in property protection. Many Fortune 1000, Dow (Direct OverWrite) See magneto-optic disk. Jones-listed and leading international corporations, rely on FM Global to better understand the nature and causes of their risks; for sound loss prevention solutions that safeguard their properties against the threat of loss; for cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. insurance and risk financing solutions; and to minimize business disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. and its financial impact if a loss occurs. With 39 locations serving nearly 100 countries, FM Global employs more than 4,000 people and has nearly US$2.5 billion in policyholder Policyholder An individual who owns an insurance policy. surplus. For more information on FM Global, visit www.fmglobal.com |
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