Members of the National Association of Insurance Commissioners (NAIC) have attended a training programme on property risk mitigation at the Insurance Institute for Business and Home Safety’s (IBHS) Research Center in Richburg, South Carolina.
The one-day regulator training programme specifically focused on risk mitigation factors related to building materials and construction systems.
Regulators toured the IBHS Research Center campus, which includes a massive test chamber capable of testing full-scale, one and two-story residential and commercial structures, as well as components used in larger commercial facilities.
IBHS engineers create severe weather conditions that mimic real-world situations such as hurricanes, wind-driven rain, wildfires and hailstorms.
“This training programme is an invaluable opportunity for state insurance regulators to more fully engage with the overarching implications of mitigation initiatives on insurance operations, public policy and consumer education,” said Adam Hamm, NAIC president and North Dakota insurance commissioner.
“Recent severe storms and the constant threat of disaster in each state underscore the importance of these critical training programmes.”
The programme was designed to demonstrate how mitigation research and education can help policyholders reduce losses and lead to a healthier and more stable insurance environment. Thirty-three regulators participated in the training program.
The IBHS is a property and casualty insurance industry-supported organisation that conducts scientific research to identify and promote effective actions to strengthen homes, businesses and communities.
