Sentences with probable maximum loss
prob·a·ble max·i·mum loss
P p - With $1 million at risk but a probable maximum loss of $100,000, for example, the property owner would probably buy $100,000 insurance and bank on avoiding the larger disaster.The probable maximum loss is the largest loss thought probable under an insurance policy; normally applied to material damage risks where the total sum insured is not considered to be at risk from one loss event.Probable maximum loss is the maximum amount of loss that can be expected under normal circumstances.