Probable Maximum Loss estimates and Seismic Risks Assessments
Seismic Risk Assessments, often referred to as Probable Maximum Loss estimates, are used by commercial property owners, investors, lenders, and others to understand and control risks related to earthquakes. They are used to understand losses related to damage to buildings, loss of inventory, disruption of operations and cash flow, interruption of utility and public services, and more.
Reports to meet your objectives.
Standards for seismic risk assessments are published by the ASTM. Standards should be carefully reviewed to fully understand the work to be completed and the limitations of reports. While a Seismic Risk Assessment is sometimes referred to as an assessment of Probable Maximum Loss (PML), they are not necessarily the same.
Seismic Risk Assessment are written to the ASTM E2026-16a that defines terminology used in assessments and identifies levels of assessment that help define objectives and scopes of work. The standard defines three to four levels of assessment for the evaluation of:
- Seismic Ground Motion
- Site Stability
- Building Stability & Damageability
- Building Content Damageability
- Business Interruption
Most PML assessments are performed in accordance with ASTM E2557 Standard Practice for Probable Maximum Loss Evaluations for Earthquake Due Diligence Assessments based on the Levels and criteria discussed in ASTM E2026.
