Bringing equipment breakdown expertise to new markets

As technology, automation and interconnected equipment become more central to business operations, equipment breakdown continues to be an important consideration within property insurance portfolios. For insurers, MGAs (managing general agents) and reinsurance brokers evaluating how to address these exposures, the right reinsurance relationship can provide access to focused expertise, technical insight and flexible support.

For nearly 150 years, FM Boiler Re has helped insurers in North America strengthen their equipment breakdown offerings through treaty reinsurance relationships. Now, we are building relationships with insurers, MGAs and reinsurance brokers across the UK and Europe to explore how that experience can support property markets across the region.

A collaborative treaty reinsurance model

FM Boiler Re operates exclusively through insurance partners and focuses on treaty reinsurance solutions. This approach allows insurers to leverage FM Boiler Re's equipment breakdown expertise while maintaining ownership of the insured relationship and broader insurance program. Our role is to support partners with underwriting, claims and engineering knowledge focused on equipment breakdown exposures.

What sets FM Boiler Re apart is a collaborative approach built around each partner's priorities. Rather than a one-size-fits-all model, we work closely with insurers to understand their portfolio and business objectives. This flexibility has enabled us to work with a wide range of insurance organizations across a variety of markets.

"Working with such a diverse group of partners has reinforced that there isn't a single approach to equipment breakdown,” says Greg Poorvin, senior reinsurance territory manager of FM Boiler Re. “Every organization brings different goals, distribution strategies and priorities, and understanding those differences is an important part of building successful long-term relationships. As we expand into the UK and Europe, we look forward to introducing this approach to new partners."

Focused equipment breakdown expertise

Equipment breakdown can involve mechanical, electrical and pressure-system failures that disrupt business operations. Addressing these exposures requires technical understanding of how equipment operates, how breakdowns occur and how those events can affect varying occupancies.

Because FM Boiler Re focuses exclusively on equipment breakdown, our teams bring a depth of experience developed through decades of serving insurance partners. Partners also gain access to FM’s broader technical resources, property insights and loss prevention perspective.

Relevance for insurers, MGAs and brokers

For insurers, MGAs and brokers, equipment breakdown can add meaningful value when it fits naturally within broader property insurance offerings. FM Boiler Re's experience in North America has demonstrated how a dedicated equipment breakdown program can complement property portfolios.

Benefits include

• An equipment breakdown partner to support underwriting and claims considerations
• Flexible approaches tailored to each partner’s needs
• Access to FM’s property-focused resources, tools and industry insights

Expanding the conversation

As FM Boiler Re expands into the UK and Europe, our focus remains the same: Building long-term relationships and helping insurance partners evaluate equipment breakdown solutions that align with their business objectives. We welcome conversations with insurers, MGAs and reinsurance brokers interested in learning more about FM Boiler Re and our approach to treaty reinsurance.

If you would like to discuss potential opportunities, submit a new business enquiry and a member of our team will be in touch.

This is part of a series of articles FM is producing to help brokers understand the value we can provide to their commercial property insurance clients. Look out for the next post in this series for more valuable insights.