Since its inception in the 1960s, probabilistic seismic‐hazard analysis (PSHA) (Cornell, 1968; McGuire, 2004, 2008) has emerged as the principal methodology for assessing the potential hazard posed by earthquake ground motion in a broad range of contexts. Seismic‐hazard analysis serves different needs coming from a wide spectrum of users and applications. These may encompass engineering design, assessment of earthquake risk to portfolios of assets within the insurance and reinsurance sectors, engineering seismological research, and effective mitigation via public policy in the form of urban zoning and building design code formulation.