Seismic Vulnerability of Buildings under Construction in China

Abstract eng:
Rapid economic growth in China over the past decade has resulted in an increasing number of new building construction projects. As a result, investors, contractors, and the insurance industry are calling for additional seismic risk assessments of buildings under construction. Unlike the risk of existing buildings, the vulnerability and replacement value of a building under construction vary over time, and its risk to the contractor diminishes upon the completion of construction. Relying on the vulnerability function and the total value at the finished state to provide an estimate of monetary damage may lead to inaccurate results. Drawing on examples of steel constructions in China, derivation of progressive vulnerability and statistics of their construction period and cost, this paper presents a framework designed to account for the time-dependent nature in managing this type of construction risk in the case of earthquakes. The proposed method can be used by insurance companies for both pricing and portfolio risk assessment, and it could also be easily extended for site-specific seismic risk assessment for buildings under construction.

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