Glossary of Terms ================= asset ----- An asset is something of value, which can include buildings and population. For example, an asset can include an individual building at a given location, or a number of buildings that are grouped and co-located at a single location and are classified with the same *taxonomy*. branch ------ The simplest element in a logic tree; it belongs to a branch set where it represents one possible option among a finite number of alternatives. A branch is associated with a weight value (Scherbaum and Kuehn, 2011) if the branch set represents the epistemic uncertainty on a parameter or a model when the branch set is used to specify alternative models (e.g. district Magnitude-Frequency Distributions(MFDs)). branch set ---------- The structure describing the epistemic uncertainty on a specific parameter or model included in a logic tree structure. It ensembles a number of branches, each one representing a discrete alternative. consequence function -------------------- Consequence functions describe the probability distribution of loss, given a performance level and are generally derived empirically. deductible ---------- A parameter used in the calculation of *insured losses* that establishes the economic value that needs to be deducted from the *ground-up losses* earthquake rupture ------------------ A 3D surface - representing a portion or the entire fault surface - over which a slip event (i.e. an earthquake) occurs. event loss table ---------------- A list of ruptures from a number of *stochastic event sets* and respective aggregated losses. exposure model -------------- A set of *assets* grouped according to their geographical location, *taxonomy* and value. fragility function ------------------ the probability of exceeding a set of limit states, given an intensity measure level. These functions can be discrete or continuous. fragility model --------------- A set of *fragility functions* used to model the fragility of all the *assets* in the *exposure model*. ground-motion field ------------------- An object describing the geographic distribution around a rupture of a ground motion intensity measure. ground-motion prediction equation --------------------------------- An equation that - given some fundamental parameters characterizing the source, the propagation path and the site (in the simplest case magnitude, distance and V\ :sub:`S,30`) - computes the value *GM* of a (scalar) ground motion intensity parameter. ground-up losses ---------------- Total direct losses from a collection of assets due to a seismic event. insured losses -------------- Fraction of the *ground-up losses* that can be covered by the insurance industry, ac- cording to a certain policy which defines *limits* and *deductibles*. limit ----- A parameter used in the calculation of *insured losses* that establishes the maximum economic amount that can be covered by the insurance industry, according to a certain insurance policy. loss disaggregation ------------------- A methodology to investigate what are the characteristics of the seismic events that are contributing more significantly to the losses at a given location, in terms of fundamental variables commonly used to characterize seismic sources (e.g. magnitude, source-site distance, location). seismic source data ------------------- An object containing the information necessary to completely describe a PSHA seismic source i.e. seismic source type, position, geometry and seismicity occurrence model. seismic source model -------------------- An object containing a list of seismic source data. stochastic event set -------------------- An object containing one or many *seismicity histories*. taxonomy -------- Scheme used to classify the *assets*. For buildings, a classification scheme has been proposed by *GEM* which considers a number of attributes including lateral load resisting system and its material, height, year of construction. The taxonomy is currently used to link the *assets* in the *exposure model* to the relevant *vulnerability function* or *fragility function*. vulnerability function ---------------------- A function that describes the probability distribution of loss ratio, conditioned on an intensity measure level. Currently only discrete vulnerability functions are supported. vulnerability model ------------------- A set of *vulnerability functions* used to model the physical vulnerability of all the *assets* in the *exposure model*.