FM Global must defend the bulk of a proposed class action saying the Rhode Island-based insurance company mismanages its $1.8 million 401(k) plan through high fees and poorly performing funds.

with FM short for “Factory Mutual Insurance Company.” Today the company operates worldwide and has multiple divisions, covering everything from boilers to renewable energy projects.

Ryan Specialty, an international specialist insurance company, has concluded a deal to buy Velocity Risk Underwriters from ...