IBHS: A History of Property Loss Prevention
Thirty years ago, people and companies came together to form an organization dedicated to improving conditions that affected the property insurance market. Over time, its mission has evolved, but its commitment to research and education remained constant.
The Institute for Business & Home Safety (IBHS) is the latest iteration of that organization and is marking 30 years of incorporation this month.
The National Committee on Property Insurance, as it was originally known, was founded in July 1977 in Chicago. Its mission was to address the needs of the urban insurance market and to act as a liaison between the industry and other public and private organizations.
The organization expanded its focus in the late 1980s when it became the Insurance Institute for Property Loss Reduction (IIPLR). Its mission grew to include not only reducing property losses in urban areas, but in all areas of the residential housing market.
As the needs of the property insurance market broadened, it became clear that the organization’s message and expertise should extend to businesses and the reduction of economic losses due to natural disasters. The evolution began with the adoption of a new strategic plan in 1996.
To complete the transformation, the organization set out in 1997 to adopt a new identity. Now the Institute for Business & Home Safety, the name solidified a commitment to the protection of people, as well as property, in both the residential and commercial markets. In 2005, the scope of IBHS broadened to include reducing everyday property losses from events such as plumbing failures and water intrusion.
Today, through its engineering, research and communication initiatives, the IBHS mitigation message is reaching more people than ever before, and it is resonating with home and business owners.
“By putting our programs and practices into action, residents gain peace of mind and a house to come back to if they are forced to evacuate, and business owners are afforded an opportunity to reopen quickly if they are forced to close,” said Harvey Ryland, IBHS president and CEO.
“Whether it’s through building codes, construction methods, maintenance practices or business continuity plans, we do know how to reduce the effects of natural disasters and other property loss events. With the support and leadership of our more than 200 insurer and reinsurer members, we will to continue to do just that.”
