a new model that provides physical damage and financial loss metrics due to earthquake ground shaking hazard for scenario events and probabilistic risk assessment
The China model has been developed by GEM using public sources of information, such as past seismicity, and geodetic and geologic data for the hazard component, combined with exposure and vulnerability data to create the risk model. The hazard component incorporates both faults and area sources. Earthquake occurrence rates on active faults are based on a new tectonic block model derived from the joint inversion of geodetic and geologic data. The risk model provides estimates of risk to residential, commercial and industrial buildings using GEM’s vulnerability models appropriate to Chinese construction practice. GEM has also developed an exposure model that can be used to estimate total losses to the building stock in addition to portfolio losses. GEM extensively collaborated with its private and public partners to test and validate the model against industry standards in order to produce a new model that represents GEM’s view of risk.
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