FM Global

FM is an American mutual insurance company that provides specialized loss prevention services and property insurance primarily to large corporations worldwide. It operates on a distinct business model, using engineering analysis rather than historical actuarial data to assess risk and determine premiums. The company’s core approach involves extensive on-site engineering evaluations to identify potential hazards and recommend improvements, proactively mitigating physical and financial risks for its clients.

The company's origins trace back to 1835 when Zachariah Allen, a textile mill owner, sought to lower his insurance costs by implementing property improvements aimed at preventing fire damage. Upon being denied a premium reduction, Allen rallied fellow mill owners who shared his philosophy that losses could be prevented. Together, they established the Manufacturers Mutual Fire Insurance Company, built on the principle of insuring only properties committed to proactive loss prevention strategies.

FM primarily serves large global corporations seeking to protect their assets within the highly protected risk (HPR) property insurance market. Its mission is deeply rooted in the conviction that the majority of property losses are preventable or can be significantly mitigated. The company's ongoing vision is to empower businesses to build resilience and ensure continuity by continuously advancing research and engineering in property conservation and risk management.