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ASTM Rolls Out Updated Earthquake Risk Guidance

ASTM International, which develops and delivers voluntary consensus standards focused on seismic risk globally, has announced changes to R2026 Standard Guide and E2557 Standard Practice, the industry standards for assessing risk that earthquakes pose to buildings.

“If you are a chief risk officer at a bank with a substantial portfolio of [properties] in Western States or a lender lending to a borrower with properties located in seismically active states—California, Washington, Oregon with the highest risk, a large seismic event could generate a big loss on your portfolio,” said Joe Derhake, CEO of consulting firm Partner Engineering and Science, which specializes in engineering and environmental due diligence.

Sherry Hsieh of Real Estate Finance & Investment spoke to Partner CEO Joe Derhake about the impact the new standard will have on the commercial real estate industry. Download the full article here.