Word forms: (plural) total probable losses
( Insurance : Underwriting )
Insurance for losses higher than $25,000 and up to $3,000,000 is unnecessary because
the maximum total probable loss is only about $250,000.
If the amount insured is less than the full value of the property insured, this produces
an inadequate premium not based on total probable loss.
A total probable loss is the highest degree of loss or damage that is probable if an insured event occurs.
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