Abstract
There is much that the reader may find remarkable in the paper, “Is Probable Maximum Loss (PML) a Useful Concept?” The term, itself, is believed one of those esoteric symbols of the underwriting fraternity whose members must in turn, sometimes find certain actuarial arcana a bit mystifying. It is not possible that PML can convey to the actuary the associations (not necessarily all pleasant) that these letters can suggest to the experienced fire underwriter.
Volume
LVI
Page
40-44
Year
1969
Categories
Financial and Statistical Methods
Loss Distributions
Extreme Values
Business Areas
Reinsurance
Publications
Proceedings of the Casualty Actuarial Society
