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What is pml in insurance?


Asked By: Asmee Varghese



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Probable maximum loss (PML) is most often associated with insurance policies on property, such as fire insurance or flood insurance. Probable Maximum Loss (PML) — a property loss control term referring to the maximum loss expected at a given location in the event of a fire at that location,. Probable maximum loss (PML) is a term used in the insurance industry as well as commercial real estate. insurance that an insurer should retain on the risk for its own account. Previously, underwriters have used the PML, or other related tools, to establish the range for the “working layer of coverage. Commercial insurance underwriters use probable maximum loss (PML) calculations to estimate the highest maximum claim that a business most likely will file,.

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