Which organization focuses specifically on the property insurance industry?

The choice highlighting Factory Mutual Approvals is accurate because this organization is directly associated with the property insurance sector, particularly focusing on loss prevention and risk management strategies in the design and operation of buildings. Factory Mutual, now known as FM Global, conducts rigorous testing and standards development aimed specifically at minimizing property risk for businesses and insurers alike. The organization works closely with the property insurance industry by establishing guidelines and standards that help reduce the likelihood and severity of property damage, which is a critical aspect of ensuring insured entities maintain lower premiums and heightened safety.

On the other hand, the Gypsum Association is primarily related to the gypsum industry and building materials, ANSI (American National Standards Institute) develops standards across various industries, and ASTM International creates voluntary consensus standards across a wide variety of materials and products, neither of which focus specifically on property insurance.