Mississippi has hired a wind engineering firm to assess the various steps that property owners might take to reduce damage from hurricanes.
Mississippi Insurance Commissioner Mike Chaney and wind engineering firm AIR Worldwide have agreed to terms on a contract on a cost/benefit study required by the Mississippi Legislature leading to development of a hurricane wind damage mitigation program.
The study will estimate the costs and benefits associated with various residential and commercial construction features which can “mitigate” or reduce hurricane wind losses.
AIR Worldwide said it will also recommend the best ways to encourage use of these features in both new and existing structures, by providing incentives in property insurance premiums and education about the return on investment in mitigation.
“This is a very important first step in protecting lives and property in Mississippi,” Chaney said. “Once the specific requirements for Mississippi are established, we can begin to implement further steps in individual homes if funding becomes available. Not only would the property be more wind resistant and safer for the occupants, but this will lead to significantly lower premiums in the hurricane areas.”