Final details are still TBC but RedRisk will cover the key model features:
- The model employs a fully probabilistic chain of Monte Carlo simulations, propagating uncertainties across all stages of analysis.
- Featuring a hazard module represented by a 30,000-year stochastic catalogue and a ground motion model consistent with the ESHM20 (Danciu et al 2021[1]) and its logic trees.
- Optional MPS19-consistent hazard model for analysing Italy-based portfolios.
- Native support for explicit modelling of spatially correlated ground motion.
- A harmonized vulnerability model consisting of hundreds of calibrated functions with roots in empirical, analytical, hybrid functions developed in Europe.
- An extensive Industry Exposure Database (IED) is built within the model and used for model validation.
- Rigorous validation against a large set of historical events in Europe, the literature, and industry loss experience.
[1] Danciu, L., Nandan, S., Reyes, C., Basili, R., Weatherill, G., Beauval, C., Rovida, A., Vilanova, S., Sesetyan, K., Bard, P.-Y., Cotton, F., Wiemer, S., and Giardini, D.: The 2020 update of the European Seismic Hazard Model - ESHM20: Model Overview, EFEHR, https://doi.org/10.12686/A15, 2021