Definition of "Maximum possible loss"

Kevin  Guilford real estate agent

Written by

Kevin Guilfordelite badge icon

Burke & Manna Real Estate Agency

Same as term Maximum Foreseeable Loss: worst case scenario under which an estimate is made of the maximum dollar amount that can be lost if a catastrophe occurs such as a hurricane or firestorm.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed for each item. If a ...

Failure to exercise proper care. Many property insurance policies exclude losses that result from negligence. Neglect is also the basis for many liability suits. If an injury can be ...

Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...

Employee stock ownership plan (ESOP); trust (ESOP) under which an employer received tax credit instead of a tax deduction for contributions. Until passage of the tax reform act of 1986, the ...

Soliciting of customers for the purchasing of an insurance product. ...

Death from other than accidental means. ...

Federal legislation that established the old age survivors, disability, and health insurance (OASDHI). ...

Circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an ...

Insurance sold by a stock insurance company that is usually in the form of nonparticipating insurance. ...

Popular Insurance Questions