FM Global adds pair of climate reporting tools

FM Global on Tuesday launched two climate reporting tools designed to help policyholders prioritize their investments in climate risk mitigation.

The climate risk report scores a policyholder based on the actions it takes to address climate risk and its exposure to events such as flood, windstorms, hail and wildfire, FM Global said in a statement.

The report is based on billions of property-risk data points collected in more than 60,000 engineering visits each year to policyholder sites, the Johnston, Rhode Island-based insurer said.

FM Global will also provide policyholders with a climate reporting aid to help them disclose acute and chronic climate-related financial risks to investors and the public according to widely adopted frameworks such as the International Task Force on Climate-related Financial Disclosures.

FM Global in August said it would offer a 5% premium offset to policyholders to help them invest in climate mitigation. The credit totals around $300 million across its policyholder base.