MLchartDataset catalogue

Maximum foreseeable loss (MFL)

Term · Insurance and risk management · MLC-T-INS-002146

An estimate of the largest loss that could reasonably be expected to occur under normal operating conditions, assuming the failure of some protective measures but not all. This assessment considers the most severe single event that is likely to happen, such as a fire in a specific area of a building. It is used in underwriting to determine appropriate coverage limits and risk management strategies.

Table 1. Record
IdentifierMLC-T-INS-002146
FieldInsurance and risk management
AbbreviationMFL
Record as JSON 
{
  "id": "MLC-T-INS-002146",
  "term": "Maximum foreseeable loss (MFL)",
  "field": "Insurance and risk management",
  "definition": "An estimate of the largest loss that could reasonably be expected to occur under normal operating conditions, assuming the failure of some protective measures but not all. This assessment considers the most severe single event that is likely to happen, such as a fire in a specific area of a building. It is used in underwriting to determine appropriate coverage limits and risk management strategies.",
  "abbreviation": "MFL",
  "url": "https://mlchart.com/terminology/insurance/maximum-foreseeable-loss-mfl/"
}

Record 2,102 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.