Despite the modernity of today's cities, all kinds of buildings are built without proper hedge strategies against the risk of
large disasters such as earthquakes. In order to control such risks, new engineering and economic mechanisms should
be developed. On the engineering front recently Structural Health Monitoring (SHM) systems using sensor networks
have been proposed and even enacted in many variations. Fortunately, data taken from such systems serve as good
candidates as risk indices for each building. The purpose of this study is to propose insurance derivatives to maintain
and improve the safety of buildings and to provide a risk hedge instrument for owners. These derivatives should be
able to take advantage of information gained from SHM sensor networks. In this study, hazard information offered by
J-SHIS (Japanese Seismic Hazard Information Station), and Weibull distributions associated with Is-WF (Seismic index
based on seismic diagnosis), proposed by Okada and Takai as Damage Index Functions, were used for the quantification
of risk. This simply defined quantification was used to evaluate the proposed earthquake derivatives. Results showed
that the proposed derivative is better than the functions currently used for earthquake insurance, and that it has potential
to be used as incentive for seismic strengthening.
Access to the requested content is limited to institutions that have purchased or subscribe to SPIE eBooks.
You are receiving this notice because your organization may not have SPIE eBooks access.*
*Shibboleth/Open Athens users─please
sign in
to access your institution's subscriptions.
To obtain this item, you may purchase the complete book in print or electronic format on
SPIE.org.
INSTITUTIONAL Select your institution to access the SPIE Digital Library.
PERSONAL Sign in with your SPIE account to access your personal subscriptions or to use specific features such as save to my library, sign up for alerts, save searches, etc.