FM Global News

FM Global Creates Specialty Division for Forest Products, Chemical Industry

Commercial property insurer FM Global is creating a new division within the company to further strengthen its focus on serving the property risk management needs of the forest products and chemical industries. James P. O’Brien, a 31-year veteran of the …

Ralph Lauren Suit Alleges Fraud by Insurer Refusing to Cover Coronavirus Losses

Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory …

Houston Rockets Becomes First NBA Team to Sue Insurer Over Denied Covid-19 Claims

The Houston Rockets and billionaire owner Tilman Fertitta are suing their insurer for denying the National Basketball Association team’s bid to tap its business-interruption insurance policy over revenue losses from the Covid-19 pandemic. Fertitta’s Rocket Ball Ltd. and Clutch City …

FM Global Opens $16M Electrical Hazards Laboratory in Rhode Island

Commercial property insurer FM Global has opened a $16 million Electrical Hazards and Gas Detection Laboratory at its 1,600-acre Research Campus in West Glocester, R.I., following nearly two years of construction. Fireballs, explosions, combustible and toxic gas leaks and short …

Businesses Believe Cyber Insurance Covers More Than It Does: Survey

Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee, however, are rarely covered …

Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008

In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached $19 billion in inflation-adjusted …

Luxembourg Attracts 50 Firms for Their Post-Brexit EU Headquarters

Luxembourg said it is “very pleased” that about 50 asset managers, insurers, and other financial firms have looked to the Grand Duchy as a foothold in the European Union once the U.K. leaves the bloc. “We are very pleased with …

FM Global Names Fidler SVP, Chief Human Resources Officer in Rhode Island

FM Global, a commercial and industrial property insurer, has named Deanna Fidler as senior vice president and chief human resources officer. In this role, she is based at FM Global’s corporate offices in Johnston, R.I., and succeeds Enzo Rebula, who …

Every $1 Spent in Hurricane Protection Lowers Property Loss Exposure by $105

Every $1 a business spends on hurricane protection reduces loss exposure by an average of $105. That’s based on an analysis by global commercial and industrial property insurer firm FM Global, which reviewed loss and mitigation information from thousands of …

FM Global’s Chief Operating Officer Hall to Retire; 2 Leadership Appointments Announced

Jonathan W. Hall, chief operating officer of commercial and industrial property insurer FM Global will retire on July 1, 2018, after 37 years with the company. During his tenure with FM Global, Hall has held a variety of leadership positions. …