Improving SEISMIC Risk Management
By Jason G. Coray, Partner Engineering and Science
ASTM’s incorporation of earthquake hazards in their forthcoming Property Resilience Assessment Guide may offer clarity and consistency to managers struggling to improve seismic resilience in portfolios.
The recent 7.8 magnitude earthquake in Turkey and Syria, as well as a smaller 3.8 magnitude earthquake closer to home in Buffalo, New York, underscore the importance of understanding and mitigating for seismic activity in the greater constellation of growing risks brought about by natural disasters and climate change.
In response to growing pressure to document and disclose risk exposures, ASTM International is expected to release a guide later this year that will provide recommendations for property resilience assessments (PRA).