How FM's Global Program model delivers seamless coverage for your clients—optimizing the payment of a loss where the loss occurs

The traditional way of structuring a global insurance program usually involves the issuance of a Global Master policy that provides the broad, umbrella coverage and where required, the carrier’s local insurance office will issue a local form to the local client.

These local forms may be adequate to meet regulatory requirements and may be standard within the local market, but usually do not have the same coverages provided by the Master policy. In other words, the local form is simply “tolerable.”

Tolerable does not equate to broad or consistent and coverages may vary greatly country by country. By its very nature, this structure creates gaps in coverage which could lead to uncertainty of where a loss will be paid, and if you need to make a claim – the last thing you need is uncertainty.

When it comes to FM, to provide our multinational clients with broad, consistent coverage around the globe, the FM Account Manager develops both the Master policy and wherever permissible, the local FM underlyers. Each policy is bespoke and tailored to the needs of the client. In territories where FM is not an authorized insurer, the underlyer is issued and delivered to the local client by the WorldReach Partner, in close coordination and agreement with FM.

Here’s the difference between FM and other global insurance companies. The FM underlyer is practically a mirror image of the master policy and this program structure ensures maximum – not simply tolerable - local coverage is in place and should a loss occur, it can be paid with certainty at the local level.

A strategic global network of trusted partners

As a mutual insurer, FM invests where our clients need it the most. We are licensed to provide insurance in 48 countries, covering ~90% of typical client exposures. This includes 27 European countries, as well as strategic markets including in Australia, Canada, Hong Kong, Mexico, New Zealand, Singapore, South Korea, Switzerland, UK and U.S.A.

For the remaining exposures, FM leverages our WorldReach® partners. These are local insurers handpicked by our team for their excellent servicing capabilities, market stature, and financial stability. Each partner has a dedicated FM relationship manager, responsible for developing true partnerships. Together we offer a robust and stable network of colleagues that have worked together for 10–50 years in some cases.

Client and broker service is at the heart of what FM offers

WorldReach® combines FM’s global standards with a network of trusted partners, helping to ensure consistent service delivery and responsiveness across all locations. The model enables efficient coverage for these local exposures while maintaining the attention, coordination, and local expertise needed to support multinational programs.

Consistent coverage that closes the gaps

Global programs often start with insurers negotiating master policies at a client’s headquarters. But when it's time to deliver locally, most insurer networks will only issue “good local standard” policies, which can be far narrower. In the event of a claim, the gap must then be claimed back on the master policy, resulting in repatriation complexity and frustrating delayed payments.

FM is different. We have negotiated standardized FM policy forms with nearly all WorldReach® partners. Clients’ local subsidiaries typically get the same quality product as their head offices around the world. This level of consistency is rare, providing extremely broad coverage compliantly issued in each country and contract certainty that you can rely on.

That means you will know exactly what coverage clients have, everywhere. When a loss occurs, you can be confident it will be paid locally in full, with no split claims and no waiting for the difference to be processed on a master policy. This simplifies policy admin and supports positive client experiences by minimizing the potential for business interruption.

Global expertise—when and where you need it

FM delivers global strength in hand with local expertise. Our specialists speak 25 languages, conduct 100,000+ engineering workshops annually, and deliver 200+ policy workshops every year.

We operate as an extension of your client service capabilities. You and your clients can tap into specialists when you need country-specific regulatory guidance or are navigating complex claims spanning multiple jurisdictions. With our support, you can explain and defend program architecture with confidence. This positions you as a strategic advisor, not a commodity broker.

If you’d like to benefit from our global program management expertise, we would love to hear from you. Submit a new business enquiry here and we’ll 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.