Abstract
The term "PML" or "probable maximum loss" is one of the most widely used terms in property insurance underwriting. But it represents one of the least clear concepts in all insurance. This fact is reflected by the results of a four-year study that involved collecting the personal and company definitions of PML from over one hundred underwriters and underwriting executives. No two of their definitions fully agree.
Volume
LVI
Page
31-39
Year
1969
Categories
Financial and Statistical Methods
Loss Distributions
Extreme Values
Business Areas
Reinsurance
Publications
Proceedings of the Casualty Actuarial Society
