Assembling 60,000 people in a stadium to watch a sports event is a daunting prospect. Natural disasters, a terrorist attack and crowd control are just a few of the hazards that come to mind. Now multiply these threats by 22—the number of stadiums in the property insurance program of Major League Baseball.
Anthony Avitabile is the risk manager tasked with handling these spine-stiffening hazards. On his bench is FM Global, the giant international property insurer that absorbs the lion’s share of the financial risk. Five years ago, when Avitabile sought an insurance partner to simplify his patchwork quilt of an insurance program and provide vital engineering risk services, FM Global stepped to the plate.
“We had several new stadiums that were going up and others set to be constructed, and wanted to tap FM Global’s engineering expertise,” says Jonathan Mariner, MLB’s CFO, pictured at right.
“We wanted their advice on ways to reduce the premium rates through engineering loss prevention," Mariner says. "They had looked at some recently built stadiums the year they took on the insurance program and said, ‘Had you done this or that, you would have saved some money.’ That resonated with us.”