PET - Plain English Taxonomy

Attribute:	R14423
Concept:	Financial Risk Capital Adequacy Probable Maximum Loss Adjusted Amount
Label:	Adjusted PML
Concept Guidance:	This is the value, as at the relevant date, of adjusted Probable Maximum Loss (PML). This item is to be determined in accordance with the relevant prudential standards. Probable Maximum Loss (PML) is the largest gross loss to which an insurer will be exposed (taking into account the probability of that loss) due to a concentration of risk exposures, without any allowance for potential reinsurance recoveries.

Dimensions

Dimension	Member	Description
CounterpartyTypeDimension	(LendersMortgageInsurer)	This dimension categorises the reported information in accordance with the type of counterparty the entity has transacted with. The counterparty in relation to the information is a Lenders Mortgage Insurer (LMI). Lenders mortgage insurer means an insurer that has written or reinsured, or proposes to write or reinsure, policies of lenders mortgage insurance.Lenders mortgage insurance has its ordinary commercial meaning and includes insurance under a policy that protects a lender from losses in the event of borrower default on a loan secured by a mortgage over residential or other property.
PrescribedStressScenarioDimension	(PMLYear1)	This dimension categorises the reported information according to the relevant years of the prescribed stress scenario, which is in the form of economic or property downturn. The probability of maximum loss allocations are based on the year in this downturn scenario. The information reported is in the 1st year of the economic or property downturn. The probability of maximum loss is allocated in accordance with relevant prudential standards.

Dimension

Member

Description

CounterpartyTypeDimension

(LendersMortgageInsurer)

This dimension categorises the reported information in accordance with the type of counterparty the entity has transacted with.
The counterparty in relation to the information is a Lenders Mortgage Insurer (LMI). Lenders mortgage insurer means an insurer that has written or reinsured, or proposes to write or reinsure, policies of lenders mortgage insurance.Lenders mortgage insurance has its ordinary commercial meaning and includes insurance under a policy that protects a lender from losses in the event of borrower default on a loan secured by a mortgage over residential or other property.

PrescribedStressScenarioDimension

(PMLYear1)

This dimension categorises the reported information according to the relevant years of the prescribed stress scenario, which is in the form of economic or property downturn. The probability of maximum loss allocations are based on the year in this downturn scenario.
The information reported is in the 1st year of the economic or property downturn. The probability of maximum loss is allocated in accordance with relevant prudential standards.