FM Global collects award for RiskMark
Commercial insurer, FM Global, has received the 2010 Risk Management Award at the annual British Insurance Awards, judges having recognised the qualities of its RiskMark web-based risk quality benchmarking tool.
RiskMark is based on an algorithm modelled on FM Global’s loss prevention engineering standards, with consistent and repeatable data collection by the company’s 1,500 engineers worldwide.
The tool therefore enables the insurer’s clients to better understand the risk of major property loss at each of their facilities, while at the same time recommending solutions to address vulnerabilities.
Analysis shows that losses at locations with the lowest scores are eight times larger and occur four times more often than losses at location with the highest score.
Earlier this month, FM Global was named best provider of quality service in a survey of UK insurance buyers by StrategicRISK magazine.
The UK Corporate Insurance Buyer Survey found that firm came top for ease of access to decision makers, timely and accurate documentation and value for money, given quality of cover.
Category: Business Insurance News, Companies News, Insurance News
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