BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
FM Global will issue $800 million in membership credits to eligible policyholders that renew, the Johnston, Rhode Island-based property insurer said Friday.
The credit will be based on the length of time a policyholder has been with FM Global and their premium, the insurer said in a statement. It will apply to policy renewals beginning June 30, 2023, through June 29, 2024.
Policyholders that have been with FM Global for less than five consecutive years will be eligible for a 5% credit on renewal, those that have been with the insurer for five to 20 years will be eligible for a 10% credit and those with 20 or more years with FM Global will be eligible for 15%.
The premium credit program began in 2001 and since then the insurer has paid out more than $5 billion in credits, including a $600 million membership credit announced in 2021 for renewals between January and December last year.
Credits are applied as an offset against premium at a policyholder’s renewal or anniversary date.
Malcolm Roberts, president and CEO, said in a statement: “Our leading research, data and engineering expertise provides our clients with actionable risk mitigation recommendations. This allows our client-owners to be proactive and take the right steps to protect their business and purpose.”