Re: [Adjusters:9460] PML Calculation

[Girija Prasad Mishra]

Yes Mr. Karla

You have rightly said PML Stands for Probable Maximum Loss.

To arrive at PML you have to consider the following facts and put your sugestion the % of PML of the total cost/probable sum insured.

1. The nature of construction, materials handled, machineries involved.
2. Flamability and/or exposure to hazards, which may result in an accident.
3. Fire safety and other safety arrangements like, internal security, firebrigade, ploice etc. available for best possible loss control mean.
etc are to be taken in to account to arrive at PML.

Keeping in view the above factors you have to identify and calculate the most vulnerable area and wht will be the loss in the area and find out the percentage of the total value


On Sat, 14 Nov 2009 08:43:48 +0530 wrote
>Dear All,



Would love to see some help and light on this topic. Would really

request to attach some documents if you have regarding this.



For those who dont know PML, it stands for Probable Maximum Loss



Regds

Bhupendra Kalra



--



You received this message because you are subscribed to the Google Groups "Insurance Adjusters" group.

To post to this group, send email to insurance...@googlegroups.com.

To unsubscribe from this group, send email to insurance-adjus...@googlegroups.com.

For more options, visit this group at http://groups.google.com/group/insurance-adjusters?hl=.







with thanks & regards
________________________________
G.P.Mishra
Surveyor/Loss Adjuster

[javed malik]

Dear brothers,

 

Assessing the "Probable maximum loss" is the Underwriting subject falls in branch of "Risk assessment" and does not directly relate to the Loss adjusters. Probable maximum loss refers to the maximum amount of loss which may occur at one location due to certain peril which is evaluated by the Risk Managers/Assessors sitting at Insurers offices for the purpose.

 

The most important factor to be considered to assess probable maximum loss is the statistical data for that particular risk available in the premises and with the Insurers claims department etc. For example the Safety Engineering wing in a fertilizer plant would maintain the data of each and every accident investigating the cause, extent of loss, available measures taken for safety and suggestions to improve the conditions and measures to be taken in future to save the property from such type of accidents or to prevent such accidents. There are two broader heads of account. One is to take preventive measures so that any accident should be avoided and the other is to take safety measures to prevent probable maximum loss i.e. to minmise the loss.

 

I may refer you to go through the relevant study material available to assess and manage the risk.

 

Thanks

 

Qayyum Malik

[shailesh shah]

for information of Mr. Malik, in india many surveyors are given a
chance to work as Risk Assessor / Inspector by the Underwriters, as an
outsourced service and it is considered as a privileged opportunity of
extra earning by the surveyors. As a surveyor becomes seasoned, say
beyond 10 years, he gets such opportunities. But now there are courses
offered in this discipline, so that a brand new graduate coming out
from such institute may also be put to this job.

>> insurance-adjus...@googlegroups.com<insurance-adjusters%2Bunsu...@googlegroups.com>
>> .

>>
>> For more options, visit this group at
>> http://groups.google.com/group/insurance-adjusters?hl=.
>>
>>
>>
>>
>>
>>
>>
>> with thanks & regards
>> ________________________________
>> G.P.Mishra
>> Surveyor/Loss Adjuster
>>
>> --
>> You received this message because you are subscribed to the Google Groups
>> "Insurance Adjusters" group.
>> To post to this group, send email to insurance...@googlegroups.com.
>> To unsubscribe from this group, send email to

>> insurance-adjus...@googlegroups.com<insurance-adjusters%2Bunsu...@googlegroups.com>
>> .

>> For more options, visit this group at
>> http://groups.google.com/group/insurance-adjusters?hl=.
>>
>
> --
>
> You received this message because you are subscribed to the Google Groups
> "Insurance Adjusters" group.
> To post to this group, send email to insurance...@googlegroups.com.
> To unsubscribe from this group, send email to
> insurance-adjus...@googlegroups.com.
> For more options, visit this group at
> http://groups.google.com/group/insurance-adjusters?hl=.
>
>
>

--
shailesh, Vadodara
9824021192

[krishnama chari -]

One of the important criterias is if the insured premises ais one continuos block or different blocks insulated from each other  by which fire is prevented from spreading    Regards A.Krishnamachario --- On Sat, 11/14/09, Girija Prasad Mishra <gpmi...@rediffmail.com> wrote:

[Bhupendra Kalra]

Dear All,

 

Thanks for the information and just to add there are some technical data related to formulas for calculation PML are there in TAC website but the file needs a lot of explanations.

 

Dear Mr Salilesh Shah,

 

Can you name some of the courses and institutions delivering such courses.

 

thanks

Bhupendra Kalra

 

[Piyush Siinghal]

Providing some good papers. Hope it helps.

--
B/Rgds

Piyush Singhal
0-9811047785
psingh...@yahoo.com
www.salvagemanagers.com