Commercial property insurer FM Global has released its 2023 FM Global Resilience Index — an interactive, online tool that ranks countries on 15 measures of economic, risk quality, and supply chain resilience. Established nearly two centuries ago, FM Global dedicates its capital, scientific research capability, and engineering expertise to property risk management and the resilience of its policyholder-owners. The Rhode Island-based firm has made its Resilience Index freely accessible to any individual or company.
The FM Global Resilience Index is considered an essential tool for site selection, supply chain design, and market targeting amid critical business risks like climate change, economic volatility, and geopolitical tensions. Several global organizations have found the data-rich index so valuable they have integrated it into their site-selection/enterprise risk management software for strategic decision-making, demonstrating the power of the Resilience Index.
“Objective data should support most major business decisions, and in the Resilience Index we’ve aggregated salient data to help companies build resilience for decades to come,” said Pentti Tofte, Staff Senior Vice President, Data Analytics, FM Global. “When potential disruptions loom, a resilient company can mitigate losses of revenue, market share and growth — losses that may have been unrecoverable.”
Resilience High For These 10 Locations
FM Global’s data, both proprietary and aggregated from respected third parties, places these 10 countries/territories atop this year’s Resilience Index. Nearly 130 countries are included in the Index:
- United States Region 3 (Central)
- United States Region 1 (East)
The Dominican Republic had the most significant rise, moving from 99th to 95th based on a higher climate risk quality ranking in this year’s index. The biggest drop was Lebanon, which fell from 101st to 106th, due in part to a lower ranking in health care spending.
Keeping Up With Current Concerns
The FM Global Resilience Index provides relevant data around some of the most pivotal topics that companies face today.
Climate change is one of them. The index uses facts about each country’s climate risk exposure and climate risk quality to help companies prosper. Last fall, the 2022 FM Global Resilience Index introduced two new measures — climate risk exposure and climate risk quality.
The global economy is another concern, and more productive countries (those with higher GDP per capita) generally have more resilient business environments. Health expenditure per capita, energy intensity and high urbanization rates also affect resilience. Data on all of these economic drivers is captured in the index to keep companies growing strong.
As geopolitics continue to shift, companies can consult the index’s political risk rankings to enhance stability for future growth.
Accessible to any individual or company from FM Global, the Index is part of an exclusive suite of products designed to support FM Global clients in a changing world. The index has been utilized by global business leaders representing numerous sectors, including chemicals, education, forest products, governments, healthcare, mining, molten materials, pharma/biotech, power generation, and semiconductors.
Explore the 2023 FM Global Resilience Index on the firm’s website.