FM Global gives policyholders credits totaling US$380 million

FM Global clients will collectively be credited with an estimated US$380 million when policies are renewed in 2008. The credit is largely due to effective loss prevention efforts on the part of policyholders, which resulted in the companys excellent operating performance, FM Global said in a press release. Since 2001, FM Global has credited nearly US$3.1 billion to policyholders, this being the fourth credit, FM Global says. Eligible policyholders will receive the 2008 credit in the form of a premium reduction at the time of their policy renewal or annual anniversary in 2008. The credit each client will receive will be based on client tenure, with longer-term clients benefiting the most, according to the release. This unique client benefit clearly demonstrates that, as a mutual company, FM Global is obligated and committed to its policyholders, says FM Global chair and CEO Shivan S. Subramaniam. It also reinforces the benefits of mutual ownership, rewards client loyalty and further demonstrates the close alignment of our clients’ needs with those of FM Global.Clients holding policies for less than five years will be eligible for a 5% credit; five to 19 years will be eligible for a 10% credit; 20 years or more will be eligible for a 15% credit.