Fire Districts of New York Mutual Insurance Co., Inc. (FDM) has earned the prestigious Demotech Stakeholder Team Accomplishment Recognition (STAR) Award in the State Specialist category. This award marks the first time that FDM has earned this honor.
“We are thrilled to be one of the select companies receiving this recognition for our ability to satisfy all of our stakeholders,” said FDM EVP/COO, Royal Denny. “This award reflects our dedication to those we serve: our volunteer firefighters and their districts, those who protect and serve our communities.”
Although there are numerous insurance industry awards and recognitions based on corporate achievement, they focus on a single aspect of success, such as top-line revenue growth or profitability. In 2013, Demotech created the STAR Award to recognize property and casualty companies that were able to satisfy all stakeholders by meeting or exceeding objective criteria for each stakeholder category.
Out of the 2,643 eligible property & casualty carriers, only 31 companies — about 1% — qualified for a 2024 STAR Award by addressing the needs of the entire spectrum of stakeholders: regulators, consumers, producers, corporate employees, reinsurers, claimants, and owners.
Demotech believes that carriers that earn a profit while simultaneously addressing the needs of their constituents deserve recognition for satisfying all stakeholders.
To learn more about FDM, visit fdmny.com. To learn more about Demotech’s STAR Awards, visit demotech.com/star-awards.
###
ABOUT FDM: Fire Districts of New York Mutual Insurance Co., Inc. founded in 1978, specializes in Volunteer Firefighters’ Benefits Law and Workers’ Compensation Law in New York State. FDM prides itself in providing superior claims service to Volunteer Fire Services across New York State by providing coverage based upon 100% earning capacity for all its member policyholders. It is a company formed and owned by volunteers for the service of volunteers.