Dual delivery is integral to FM Global’s business model. Ultimately, it’s our clients’ choice whether to work directly with us or through their broker partner. Our commitment to client satisfaction is independent of the distribution arrangement—we are focused on exceptional product and service delivery.
Nearly two-thirds of our business is brokered. Accordingly, our broker partners are an important ally in raising awareness of our global capabilities in their prospecting activities, differentiating our property insurance products and services from our competitors’, and promoting our property loss prevention expertise as a basis for placing philosophically aligned business with FM Global. Most importantly, they share our commitment to providing exceptional service to our mutual clients to help them manage their total cost of risk.
To ensure global consistency in our broker business practices, we have developed the following protocols to help direct our interactions with our broker partners:
- Product and Service Delivery: contains information about our pricing and commission payments
- Broker-to-Direct Conversion Policy: outlines our commitment to fairness and ethical practices related to converting brokered business to direct
- New Business Submission Handling Policy: details the broker quote submission practice in the context of direct prospecting activity
- Addendum A: Prospect Declination Form: a signed form indicating the reason for declining a prospect (to be sent to the submission broker)
- Changes on Broker of Record Policy: provides information on the timeline associated with recognition of changed broker of record
The FM Global Group is structured to meet the changing needs of the commercial and industrial property insurance market. FM Global provides property insurance for large and complex risks, with a specialty focus on high-challenge industries. AFM offers insurance for the middle-market segment, with a concentration on soft occupancies. FM Global Cargo provides ocean cargo coverage for goods in transit.