Having FM standard certification is of great importance for products in various industries, as this certification assures the customer that the product in question is of high quality and safety. When a product has FM certification, customers will be able to make their purchase with complete confidence. When purchasing products, be sure to pay attention to whether the product has FM standard certification or not.
The FM Standard, which stands for Factory Mutual, is owned by a company in the United States with over 150 years of experience in the field of insurance compensation, risk prevention and fire coverage. The company uses a non-traditional approach to commercial insurance in which premiums and risk assessments are based on engineering analysis rather than statistical methods. FM is able to minimize risks by fully evaluating the value of the products used in the employer’s buildings.
FM is also approved by the US Code of Federal Regulations (CFR) and is specifically applicable to high-risk (HPR) insured property.
The company’s working procedure is as follows: first, FM experts assess the location to be insured in terms of potential risks and provide the necessary recommendations to prevent the occurrence of these risks in order to prevent material and moral damages. This insurance company, operating in more than 100 countries around the world, recorded an insurance premium value of $ 7.4 million and an excess of insurance costs of $ 3.6 million in 2009. In cooperation with reputable standard companies and organizations, FM is able to fully cover products manufactured in the safety industry. This means that in the event of technical problems or non-compliance with specified standards, the company will compensate all damages incurred based on the opinion of its experts.
FM has extensive facilities at its 648-acre research facility in West Gloster, N.C., to conduct fire, explosion, hazard prevention technology, and natural disaster testing, such as flooding and tornadoes. These tests examine how materials burn and the condition of key equipment components under fire conditions.
In 2010, FM allocated its corporate franchise worth $420 million to share profits with customers to promote a culture of risk prevention.
Having this certification on safety products gives customers confidence that the product meets the required standards. Many employers, consultants and consumers also specifically look for this certification on their safety equipment.
