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Factory
Mutual (FM), is a
US global company, recognized leader for loss prevention of multi
national companies around the world, within the specific market of high
protection risk properties (HPR).
Around the philosophy that every property loss can be prevented or
reduced, FM has a loss research and client advisor focus, emphasizing
over operation and facilities' changes to reduce effects of a specific
risk. The relation between FM and their clients is to minimize risks,
taking as a reference the historical data from other insured FM ‘s
companies and the market in general.
FM origin took place during the depression of 1835, when Zachariah
Allen, textile businessman, looking for a way to reduce insurance
premiums at his plant in Rhode Island, performed several improvements at
his facilities to reduce risks. Allen was pioneer in the prevention an
control of risks, although premium reduction was not granted and
therefore he decided to put together a mutualism associations with other
companies of the same industry: “Manufacturers Mutual Fire Insurance
Company“, which eventually became FM Global (1999).
FM interest was focus, since it’s beginning, on research and development
of products and techniques which allow to reduce risks and preserve
properties. In 1874 a revolutionary way of preventing losses was
introduced to the market: Sprinklers. Although the development of this
innovation took place out of FM, FM was in fact who took it to the next
level of research and development up to our times.
FM Global has it’s investigation and development headquarters in West
Gloucester, R.I., USA, where they perform fire and special hazards tests
risk detection and technological protection, against natural disasters
and electrical risks. These tests goes from witnessing the difference on
material combustion depending on it’s type through evaluate how
different construction components react to natural disasters.
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