The Institute for Business & Home Safety announced yesterday it will build a $27 million multi-peril research facility to identify methods of minimizing natural disaster risks and losses faced by homes, businesses, and communities.

Funded entirely by insurers and reinsurers, the new Insurance Center for Building Safety Research is to be built in Chester County, S.C.

The facility will have the ability to subject 1,800 square foot, two-story homes and light commercial construction to a variety of hazards, including realistic Category 3 hurricanes with winds from 111 mph to 130 mph, wind-blown fire (mimicking wildfire embers), and hailstorms.

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