FM Global, one of the nation’s leading business insurers, will provide a 5% reduction in annual premium to its roughly 1,500 policyholders to spur them to better protect their property against risks including wildfire, floods and hurricanes.
The carrier is taking the innovative step of providing what it calls a “resilience credit” as concern mounts worldwide that climate-related catastrophes are becoming more frequent and severe. The credit would total about $300 million.
