单词 | probable maximum loss |
释义 | probable maximum loss in Insurance (prɒbəbəl mæksɪməm lɔs) Word forms: (regular plural) probable maximum losses noun (Insurance: Reinsurance) loss , loss Probable maximum loss is the maximum amount of loss that can be expected under normal circumstances. With $1 million at risk but a probable maximum loss of $100,000, for example, the property owner would probably buy $100,000 insuranceand bank on avoiding the larger disaster. The probable maximum loss is the largest loss thought probable under an insurance policy; normally appliedto material damage risks where the total sum insured is not considered to be at riskfrom one loss event. Probable maximum loss is the maximum amount of loss that can be expected under normal circumstances. |
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