FM International provides $ 600 million in premium credit – Enterprise Insurance

FM Global will issue $ 600 million in membership credits to eligible policyholders who renew next year, the Johnston, Rhode Island-based real estate insurer said Wednesday.

The credit is based on duration as an FM Global policyholder, the insurer said in a statement.

Policyholders who have been with FM Global for less than five consecutive years are eligible for 5% credit on renewal, those who have been with the insurer for five to 20 years are eligible for 10% credit, and those with 20 or more years at FM Global are entitled to 15%.

The premium credit program started in 2001 and the insurer has paid off the loan several times over the past 20 years.

Thomas A. Lawson, Chairman and CEO of FM Global, said in the statement, "Our policyholders' proactive approach to improving property risk continues to contribute to their resilience and ability to mitigate loss."

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