Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss.
The National Fire Protection Association (NFPA) is a U.S.-based international nonprofit organization devoted to eliminating death, injury, property, and economic loss due to fire, electrical, and related hazards. As of 2023, the NFPA claims to have 50,000 members and 9,000 volunteers working with the organization through its 250 technical committees.
Fire safety is the set of practices intended to reduce destruction caused by fire. Fire safety measures include those that are intended to prevent the ignition of an uncontrolled fire and those that are used to limit the spread and impact of a fire.
Fire protection engineering is the application of science and engineering principles to protect people, property, and their environments from the harmful and destructive effects of fire and smoke. It encompasses engineering which focuses on fire detection, suppression and mitigation and fire safety engineering which focuses on human behavior and maintaining a tenable environment for evacuation from a fire. In the United States 'fire protection engineering' is often used to include 'fire safety engineering'.
Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company.
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968. The NFIP has two purposes: to share the risk of flood losses through flood insurance and to reduce flood damages by restricting floodplain development. The program enables property owners in participating communities to purchase insurance protection, administered by the government, against losses from flooding, and requires flood insurance for all loans or lines of credit that are secured by existing buildings, manufactured homes, or buildings under construction, that are located in the Special Flood Hazard Area in a community that participates in the NFIP. U.S. Congress limits the availability of National Flood Insurance to communities that adopt adequate land use and control measures with effective enforcement provisions to reduce flood damages by restricting development in areas exposed to flooding.
A risk pool is a form of risk management that is mostly practiced by insurance companies, which come together to form a pool to provide protection to insurance companies against catastrophic risks such as floods or earthquakes. The term is also used to describe the pooling of similar risks within the concept of insurance. It is basically like multiple insurance companies coming together to form one. While risk pooling is necessary for insurance to work, not all risks can be effectively pooled in a voluntary insurance bracket unless there is a subsidy available to encourage participation.
FM is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector. "FM" is the communicative name of the company, whereas the legal name is "Factory Mutual Insurance Company". FM has been named the "Best Property Insurer in the World” by Euromoney Magazine.
Samsung Fire & Marine Insurance (SFMI) is a South Korean insurance company based in Seoul. It is a subsidiary of Samsung Group. Its business portfolio includes automobile insurance, long-term insurance, general insurance, enterprise risk management, and annuities.
The fire services in the United Kingdom operate under separate legislative and administrative arrangements in England and Wales, Northern Ireland, and Scotland.
The Building Research Establishment (BRE) is a centre of building science in the United Kingdom, owned by charitable organisation the BRE Trust. It is a former UK government national laboratory that was privatised in 1997. BRE provides research, advice, training, testing, certification and standards for both public and private sector organisations in the UK and abroad. It has its headquarters in Garston, Hertfordshire, England, with regional sites in Glasgow, Swansea, the US, India, the Middle East and China.
A building control body is an organisation authorised to control building work that is subject to the Building Regulations in England and Wales (similar systems are provided in Northern Ireland, and in Scotland where the term 'building standards' is used. Such regulations or standards are also known as building codes in other parts of the world.
The federal administration of Switzerland is the ensemble of agencies that constitute, together with the Swiss Federal Council, the executive branch of the Swiss federal authorities. The administration is charged with executing federal law and preparing draft laws and policy for the Federal Council and the Federal Assembly.
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. According to Swiss Re, of the $6.782 trillion of global direct premiums written worldwide in 2022, $2.959 trillion (43.6%) were written in the United States.
The Association of British Insurers, or ABI, is a trade association made up of insurance companies in the United Kingdom.
Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company uses proprietary data sets and industry expertise to provide predictive analytics and decision support consultations in areas including fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management.
Fire Underwriters Survey (FUS) a subsidiary of Opta Information Intelligence Corp., is a provider of data, underwriting, risk management and legal/regulatory services focusing on community fire-protection and fire prevention systems in Canada. Fire Underwriters Survey publishes the Canadian Fire Insurance Grading Index, which is utilized by the property-casualty insurers in that country. Opta Information Intelligence Corp. was acquired by Verisk Analytics Inc. in 2022.
Sadharan Bima Corporation is the one and only state-owned non-life insurer and reinsurer in Bangladesh under the Ministry of Finance, Government of the People's Republic of Bangladesh. Both Sadharan Bima Corporation, the non-life insurer, and Jiban Bima Corporation, the life insurer, were created under the Insurance Corporation Act of 1973 of Bangladesh.
BAFE Fire Safety Register is an independent fire safety registration body for the United Kingdom. BAFE establish, develop and monitor schemes for UKAS Accredited Third Party Certification for the fire safety industry.
The United Kingdom cladding crisis, also known as the cladding scandal, is an ongoing social crisis that followed the Grenfell Tower fire of 14 June 2017 and the Bolton Cube fire of 15 November 2019. The fires revealed that large numbers of buildings had been clad in dangerously combustible materials, comprising a combination of flammable cladding and/or flammable insulation.
