FM Global has earned a 2023 Innovation Award from Business Insurance magazine for its Climate Resilience Product Suite, which helps organizations withstand and rebound from climate-related disruption, protecting their value today for prosperity tomorrow.
The Climate Resilience Product Suite includes:
- Climate Change Impact Report – Uses FM Global's unique, site-specific data to show clients how climate change may affect their facilities by 2030 and 2050.
- Climate Risk Report – Uses FM Global's unique, site-specific data to show clients the event-driven climate risks that exist at their locations today and recommends how to mitigate them.
- Climate Reporting Aid – Helps clients with reporting exposure to climate-related risks and the impact on their organizations.
- Resilience Credit – To invest in climate resilience, FM Global clients are receiving their second consecutive resilience credit. The credit awards 5% of premium to eligible clients with renewal or anniversary dates between Oct. 1, 2023, and Sept. 30, 2024.
- FM Global Resilience Index – A client and public resource that offers executives insight into the vulnerabilities of a country’s business environment and its resilience to help inform strategic decisions.
FM Global Vice President and Chief Engineer Carmelina Borsellino explains the genesis of these products: “Many business leaders are deeply concerned about the changing climate and often lack objective, actionable data and information to help them protect the value they’ve created. Through our climate resilience products, we can support our clients with the insight and loss prevention priorities and solutions they need to protect their property against climate risks today and into the future.”
The Business Insurance Innovation Awards program, which is in its 14th year, highlights innovation across the risk management and commercial insurance sector and recognizes outstanding work performed by a broad range of service providers. Winners were selected by an independent panel of judges composed of professional risk managers.
History of innovation
In prior years, FM Global has also been recognized with Business Insurance Innovation Awards for:
- Its Cyber Lab, located in Norwood, Massachusetts, USA, where scientists study real-world cyber threats and test various defense options. The facility allows risk managers to see, in a controlled environment, how their information technology and operational technology systems can be attacked.
- Its patented Cyber Risk Assessment, the insurance industry’s first comprehensive cyber readiness assessment, designed to help clients measure their overall cyber security resilience.
- Its Global Flood Map, a worldwide view of high- and moderate-hazard flood zones across the globe, meant to more accurately answer the question: “Are your locations in or out of potential flood zones?”
- MyRisk®, a one-of-a-kind cloud-based portal that helps risk managers identify and analyze risks as well as evaluate the cost of risk improvement.
- The FM Global Resilience Index, the first data-driven tool and repository that ranks the resilience of 130 countries and territories to business-disruptive events.
- The FM Global SimZone, a distinctive 12,000-square-foot (1,115-square-meter) training facility for the company’s clients and engineers in Norwood, Massachusetts, USA.
Contact an FM Global representative to learn more.