JMK's structural engineers have vast professional experience in determining
seismic threats to commercial properties. We can provide lenders detailed
solutions to seismic vulnerability as well as estimate any economic loss that
may require coverage by earthquake insurance.
Probable Maximum Loss (PML) is any seismic activity damage done to a
building that has a quantified probability of being exceeded within a given
time-period. PML values are expressed as a percentage of building replacement
cost in current dollar values. They do not include losses resulting from
damaged building contents, social elements, or business interruption.
PML is a function of structural characteristics, the building's
location relative to known faults, subsurface soil characteristics and the
amount of energy that can be released on nearby faults during an earthquake.
PML values are determined using available information about the property's
structural, geotechnical and seismicity characteristics as well as
industry-standard computer software programs.
Estimates of seismic
vulnerability are based upon the integrity of construction, local geological
conditions, statistical data for local seismicity, geotechnical information,
liquefaction factors, topographical slope, fault location and seismic
retrofitting.
At JMK, PML estimations are made
using the maximum magnitude an earthquakes in the vicinity of the site can
have. Depending on the lender, insurer, or equity owner's concerns and/or
requirements, or the expected life span of the building, different probability
percentages can be selected as the basis for study. Instead of the long-term
seismic safety criteria found in the Uniform Building Code (UBC), JMK selects
the probability of the maximum magnitude earthquake being exceeded by 10%
during a fifty-year time interval (a recurrence interval of 475-years) as our
basis for PML analysis.
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