PET - Plain English Taxonomy

Attribute:	R00198
Concept:	Financial Risk Mortgages Adjustment To Probable Maximum Loss Amount
Label:	Adjustment to the PML
Concept Guidance:	This is the value, as at the relevant date, of the adjustments made to the Probable Maximum Loss (PML) for the reporting party, as determined in accordance with relevant Prudential Standards.This item is reported to reflect a decrease in the sum insured and therefore PML as a result of the expiration of existing policies.Probable Maximum Loss (PML) is the largest gross loss to which an insurer will be exposed (within the realms of possibility) due to a concentration of risk exposures, without any allowance for potential reinsurance assets.
Form-Specifc Guidance:	For reporting parties which are lenders mortgage insurers, the PML is calculated based on the factors outlined in the relevant Prudential Standards.

Dimensions

Dimension	Member	Description
MEREconomicOrPropertyDownturnYearDimension	(Year3)	The dimension is used to categorise reported information according to the Economic or Property Downturn Year, as determined for Maximum Event Retention (MER) calculation purposes in accordance with Prudential Standard GPS116. The information reported is in relation to Year Three of the Three Year Economic or Property Downturn assumption, as determined for Maximum Event Retention (MER) calculation purposes in accordance with Prudential Standard GPS116.

Dimension

Member

Description

MEREconomicOrPropertyDownturnYearDimension

(Year3)

The dimension is used to categorise reported information according to the Economic or Property Downturn Year, as determined for Maximum Event Retention (MER) calculation purposes in accordance with Prudential Standard GPS116.
The information reported is in relation to Year Three of the Three Year Economic or Property Downturn assumption, as determined for Maximum Event Retention (MER) calculation purposes in accordance with Prudential Standard GPS116.