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What is the difference between Maximum Possible Loss (MPL) & Probable maximum Loss (PML) in Insurance? Please explain.

Insurance
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Question added by Afzal Biya Bani Shaik Gulam , Group Insurance Coordinator , Al-Muhaidib Group of Companies
Date Posted: 2016/10/19
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Deleted user
by Deleted user

MPL: the worst loss that could possibly occur because of a single event. (worst scenario case) 

PML: the maximum loss expected at a given location in a case of an accident. 

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