KEYWORDS: Earthquakes, Seismic sensors, Sensors, Meteorology, Monte Carlo methods, Hazard analysis, Motion models, Signal attenuation, Systems engineering, Legal
This paper proposes a warranty system based on a seismic performance agreement, and investigates its feasibility.
Specifically, we focus on making clear to building users the relationship between seismic force and seismic damage or
loss, and propose a warranty agreement in which accountability of seismic loss is defined in terms of ground motion
parameters obtained by a seismic sensor. This study uses the Japan Meteorological Agency seismic intensity scale (I-jma)
because of its general acceptance and recognition. A portfolio of buildings in 10 suburbs of the Kanto region is
chosen for seismic portfolio analysis. The following conclusions were derived:
1. For a portfolio of 10 base-isolated buildings, the builder's seismic expected loss was found to be approximately
0.01%.
2. In regards to feasibility of risk finance by seismic derivatives, this study found that it is possible to transfer most of
builder's risk through a 0.01% premium rate.
3. Builder risk reduction was verified by use of a seismometer.
4. A new contract warranty agreement for seismic loss insurance for users was proposed, and it can reduce the
premium to 1/15 of the current seismic insurance schemes.
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