FRIC is working together to improve risk management
The Fire & Rescue Indemnity Company Limited (FRIC) was formed in 2015 when a group of fire & rescue authorities identified a gap in the market for a set of products that combined the benefits of insurance with those of risk and financial pooling. FRIC was established as a hybrid discretionary mutual, an innovative operating model which means that it is owned and controlled by its Members, with a focus on service and satisfaction rather than generating a profit for shareholders.
Starting out with nine Members, the Mutual has grown over the past ten years to fourteen Members with more in the pipeline.
FRIC is an excellent example of what can be achieved when the right people, with the right collaborative approach, the right skills, and the right risk appetite work together. Since the formation of FRIC in 2015 it has been successfully driving down the cost of accidents, offering a value-for-money protection programme to Members and building up financial reserves.
Read on to find out more about how we work and how FRIC could benefit your authority.
A decade of experience
If you feel passionate about the quality and effectiveness of risk management in your organisation, and can see the attraction of joining like-minded authorities who pool funds to pay for their combined attritional losses, then FRIC could be right for your organisation. Speak to us today to find out more and discuss your protection needs.