Probable Maximum Loss (PML) Assessments and Reports are used by property owners, tenants, investors, and lenders to understand and control risks resulting from a seismic event. A PML report provides a statistical estimate of building damage, loss of inventory, disruption of operations and cash flow, interruption of utility and public services, and to reduce death and injury as the result of an earthquake.
Three levels of assessments are commonly performed:
- Modified Level 1
- Preliminary Engineering Assessment/Level 1
- Screening/Level 0
- Damageability Assessment