Probable Maximum Loss (PML)

Probable Maximum Loss (PML),

What is Probable Maximum Loss (PML)?

A term used to describe material damage, which refers to the maximum damage that can be expected in the event of a fire at a given location, expressed in dollars or in total value. As a percentage.

The definition of Probable Maximum Loss (PML) is: Maximum Potential Loss (MLP) is a concept widely used in property insurance. It is estimated that the insurers may suffer maximum losses if the insured property is completely destroyed. Complete damage can occur when something catastrophic occurs to the property, such as a fire destroying a building.

Literal Meanings of Probable Maximum Loss (PML)

Probable:

Meanings of Probable:
  1. Someone who is likely to do something in return, especially someone who is selected for a team.

  2. Probably a factor as to why they're doing so poorly.

Sentences of Probable
  1. Merson and Wright probably

  2. The economic situation is expected to worsen.

Synonyms of Probable

possible, feasible, anticipated, most likely, to be expected, potential, ten to one, presumed, foreseeable, credible, predictable, odds-on, expected, quite possible, likely

Maximum:

Meanings of Maximum:
  1. at most.

  2. Maximum or maximum or achievable.

  3. As high as possible, as strong as possible or as strong or as allowed.

Sentences of Maximum
  1. Its maximum length is 4 feet

  2. The school can accommodate a maximum of 32 students.

  3. Maximum vehicle speed

Synonyms of Maximum

biggest, most, paramount, extremity, summit, uttermost, peak, top, apogee, upper limit, crest, maximal, pinnacle, limit, greatest, zenith, topmost, acme, supreme, highest, height, ceiling, extreme, apex, vertex, largest, utmost

Loss:

Sentences of Loss
  1. Avoid wasting time

Synonyms of Loss

mislaying, dropping, misplacement, forgetting, overlooking