Probabilistic seismic-hazard assessment (PSHA) has been a standard input to the engineering, planning, and insurance industries for over four decades. The purpose of this chapter is to provide an overview of how PSHA is performing in the modern world. PSHA has been, after all, the focus of considerable criticism in the literature in recent years, particularly after the occurrence of major devastating earthquakes in many parts of the world. In this chapter, I discuss the advantages and limitations of PSHA in light of the recent criticisms, and then discuss the new developments that are contributing to PSHA, or are expected to do so in the future.