FM Global Offers Record Membership Credit

And in recognition of its 175th anniversary this year, the commercial property insurer is making longstanding clients eligible for a membership credit rate of 20 percent.

Premium reductions worth $420 million in all are going to clients of commercial property insurer FM Global when they renew their policies between June 30, 2010, and June 29, 2011. The Johnston, R.I.-based company announced them Tuesday and said the amount is the highest in its history. In recognition of its 175th anniversary this year, FM Global also is making longstanding clients eligible for a membership credit rate of 20 percent. FM Global, a mutual insurer, said the reductions result from its continued financial success due largely to policyholders' diligent loss prevention efforts.

To receive the maximum 20 percent membership credit, clients must have been with FM Global for 35 years or more, but newer clients are eligible for smaller percentages. Some have been policyholders with FM Global since the late 1800s, according to the company. "Following this credit, the company will have applied nearly US $1.7 billion in total membership credit to its policyholders since 2001," said Shivan S. Subramaniam, FM Global's chairman and CEO. "As a mutual insurance company founded in 1835 on the belief that the majority of loss is preventable, FM Global's membership credit is a unique client benefit because our policyholders are committed to this principle and share in the benefits of their risk improvement efforts."

FM Global also offers certification and testing services to manufacturers of fire protection equipment, electrical equipment, hazardous location equipment, fire and smoke detection, signaling equipment, building materials, and cleanroom materials through its FM Approvals unit.

On April 1, FM Global introduced a new Property Loss Prevention Data Sheet 2-0, Installation Guidelines for Automatic Sprinklers and a revised Data Sheet 8-9, Storage of Class 1, 2, 3, 4 and Plastic Commodities. Brion Callori, senior vice president, engineering and research, said they will help to simplify building owners' fire protection choices and are based on research by the company showing that specific design and installation characteristics -- such as K-factor (ability to flow water), orientation, response time, and temperature rating -- determine the effectiveness of a sprinkler, not ceiling density.

"Following these new guidelines will result in less fire, smoke, and water damage should a fire occur," Subramaniam said. "In addition, because these new standards require fewer sprinklers, less piping, and lower water pressure to operate, we believe clients will realize reduced costs for more effective protection options, making automatic sprinklers not only simpler and cheaper, but also a more sustainable choice for loss prevention." For more information, visit

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