Q. What is the Probable Maximum Number (PMN) of individual risks involved in one event used for?

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Q. How is retention scaled down based on the quality of the risk in question?

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Q. What is the meaning of P.M.N. in insurance?

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Q. How is Per Risk retention managed?

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Q. What is Retention per risk?

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Q. How are retentions scaled down in insurance?

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Q. How is the level of retention scaled down in insurance?

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Q. What factors influence the insurer's decision about retention limits?

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Q. What happens when the reinsurance market is "soft"?

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Q. What is the most important decision that any insurer is called upon to make?

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Q. What is a guide for an insurer in correcting the limits as they continue to write business over the years?

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Q. Retention is a combination of the financial consequences of__________

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Q. What is the first step in fixing retentions for property insurance?

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Q. What risk factors are used to determine the usual schedule of retentions for property insurance?

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Q. When dealing with large risks, what is customary in terms of fixing retentions?

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Q. What three factors does stability in the claims ratio depend on?

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Q. What is the approach followed by the majority of insurers to determine probable maximum loss exposure per event?

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Q. What is the purpose of the schedule of retentions?

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Q. What modifications may be made to the schedule of retentions for cases where more than one risk can readily be affected by one event?

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Q. What modifications may be made to the schedule of retentions for cases where more than one risk can readily be affected by one event?What is PML?

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