NEW YORK CITY-When preparing to buy an asset in an area prone to earthquakes, there are a lot of factors to consider. One of the industry standards helping investors make decisions in these regions is a Probably Maximum Loss report (PML).
GlobeSt.com Thought Leader Partner Engineering and Science, Inc., recently hosted a free video webinar to help industry professionals better understand how the PML process works, called "Understanding Seismic Modeling Probable Maximum Loss Reports." You can view the free video webinar here.
Panelists during the presentation are Partner President Joe Derhake, Damian Wach, executive director of technical risk management at Eurohypo AG, and Thomas Kosonen, a registered architect at 406 Management. GlobeSt.com's Ian Ritter is the webinar's host.
Understanding how a PML works is key when buying an asset in an earthquake area because big dollars are at stake, explains Wach. "A PML study dictates how much insurance is needed for an asset," he says.
The panelists also discuss, among many other topics:
- Why the standardization of PMLs is important.
- How PMLs are especially crucial when financing small multifamily assets.
- How Fannie Mae and Freddie Mac utilize PMLs.
- Different types of ground soils and how they impact an asset.
- The types of buildings that are more at risk than others.
Click here to watch "Understanding Seismic Modeling Probable Maxiumum Loss Reports."
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