FM Global has announced a second year of resilience credits worth about $US350 million ($543.40 million) for its clients to support climate mitigation solutions and strategies.  

The program follows its $US300 million ($465.77 million) investment for natural hazard-related protections last year, which the property insurer says drove a reduction of up to $US20 billion ($31.05 billion) in economic impact. 

The credits will be applied as a 5% premium offset against eligible FM Global policies upon renewals between October 1 and September 30 next year.  

FM Global CEO and President Malcolm Roberts has encouraged eligible parties to take on investments from the credits, saying extreme-weather resilience protection is “more important than ever”.   

“With the increasing frequency of disruptive events around the globe, our clients need the tools and resources to invest in risk mitigation solutions and support business continuity, “Mr Roberts said.  

“The resilience credit enables our mutual owners to protect against climate change risk today, invest in tomorrow, and make a positive impact on their customers, colleagues and communities.”  

The program forms a part of FM Global’s “suite of climate resilience products” launched last year, including its Climate Change Impact Report, which helps clients identify and prepare for future climate risks as far ahead as 2050.