Evaluating the Effect of Seismic Hazard Level on the Risk-based Insurance Premium of Buildings against Earthquake
Subject Areas : Analysis of Structure and Earthquake
Shahrokh Tafi
1
,
پوریا رشوند
2
,
Mehdi Mahdavi Adeli
3
,
سید امیرحسین هاشمی
4
1 - Department of Civil Engineering, Qazvin Branch, Islamic Azad University, Qazvin, Iran
2 -
3 - Department of Civil Engineering, West Tehran Branch, Islamic Azad University, Tehran, Iran
4 -
Keywords: Earthquake, Insurance of Buildings against Earthquake, Risk-based Insurance, Seismic Hazard Rate, Peak Ground Acceleration ,
Abstract :
The abundant uncertainties in earthquakes and the resulting damages to buildings make determining the insurance premium of buildings for earthquake coverage one of the most challenging types of insurance. This determination is subject to various variables such as earthquake hazard, which is often overlooked. The current study aims to evaluate the effect of seismic hazard levels on the risk-based insurance premiums for buildings against earthquakes. To achieve this, a risk-based framework is established to calculate earthquake insurance premiums, incorporating seismic hazard curves and fragility curves as the main components. By defining the seismicity model for Tehran city, combining faults and earthquakes, and conducting a probabilistic seismic hazard analysis, seismic hazard curves were determined at three risk levels: low, medium and high. To determine fragility curves at four performance levels, five target buildings subjected to 120 accelerograms were analyzed through incremental dynamic analysis. The desired curves were determined by regressing a normal distribution, resulting in the calculation of 15 earthquake insurance premiums. The results of this study show that the change in earthquake hazard level from low to medium and from medium to high (with a 50% and 40% increase in peak ground acceleration, respectively) leads to 120% and 85% increase in earthquake insurance premium. In general, the study suggests that as the earthquake hazard level increases in terms of peak ground acceleration, the earthquake insurance risk increases significantly, by 2.2 times. This indicates that guidelines proposing earthquake insurance premiums independent of seismic risk may lead to highly erroneous calculations.
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