Examples of Maximum Loss in a sentence
The amount of coverage shall be purchased on a full replacement cost basis, except for earthquake, windstorm and flood perils which shall be provided as sublimits and aggregate limits supported by a Probable Maximum Loss (PML) study and/or Catastrophe (CAT) Modeling report, if such insurance amounts are appropriate and available on commercially reasonable terms.
The amount of coverage shall be purchased on a full replacement cost basis (no coinsurance shall apply) except for earthquake, windstorm and flood perils which shall be provided as sublimits and aggregate limits supported by a Probable Maximum Loss (PML) study and/or Catastrophe (CAT) Modeling reports, if such insurance amounts are appropriate and available on commercially reasonable terms.
The percentage calculated by dividing (a) the actual Probable Maximum Loss ("PML") determined by the Company's wind insurance in force on September 30, 2020, by (b) the original PML of $891,356,560.
Although the Agency does not specifically require a project to be covered by earthquake insurance, it recommends a Probable Maximum Loss (PML) seismic study for all projects located in certain regions of the country where earthquakes are prevalent.The coverage amount should be for 100 percent of the replacement cost of the project.
The percentage calculated by dividing (a) the actual Probable Maximum Loss ("PML") determined by the Company's wind insurance in force on September 30, 2021, by (b) the original PML of $[***].