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What is a Probable Loss (PL)?

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What is a Probable Loss (PL)?

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A PL is the best prediction of loss because it includes the randomness associated with ground shaking and building damage. This is the actual loss that should be encountered on average over a certain return period. The PML tends to be a conservative estimate because it represents the 90% fractile. The PL curve, however, includes the entire distribution of loss variation.

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