New USGS seismic hazard maps could affect industry.(U.S. Geological Survey )(Brief article)

Best's Review, March, 2008 by Hemenway, Chad

Updates to the U.S. Geological Survey could change the way the insurance industry evaluates loss estimates for earthquakes.

The USGS is finalizing an update of the national seismic hazard maps, which includes changes to the methodology and mathematical equations it uses to model future earthquakes. The maps, last updated in 2002, were released for public input last June before the final draft is released. They provide seismic data used in building codes and influence billions of dollars of construction.

All aspects of the USGS model have been revamped, said Jayanta Guin, senior vice president of Boston-based catastrophe modeling firm AIR Worldwide, in a statement.

"The most significant changes from the point of view of seismic risk assessment...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.