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Sam423
01-25-2005, 09:32 PM
Can someone explain this to me? In the article by Lange titled "The Interpretation of Liability Increased Limits Statistics", it says "for policies carrying limits of m/n...". What does this mean?! This notation is used throughout the article so I am thoroughly confused. Perhaps I will feel very stupid once someone enlightens me...

Examinator
01-26-2005, 07:42 AM
I understood the m/n notation to be liability limits of m/n, such as \$100,000/\$300,000, or in his examples that use lower limits, \$10,000/\$20,000 or \$15,000/\$30,000. If I'm wrong, someone will surely chime in.

Sam423
01-26-2005, 11:40 AM
I don't think I explained my question clearly enough. In the notation "limits of m/n", what is m? What is n? What does "a limit of m/n" mean?

Sotally Tober
01-26-2005, 11:51 AM
I don't think I explained my question clearly enough. In the notation "limits of m/n", what is m? What is n? What does "a limit of m/n" mean?

Per Person/Per Occurrence

pegasus
01-26-2005, 04:52 PM
Another common use of this similar to per person/ per occurrence, is per claim/ per occurence.

Zorro
01-26-2005, 07:00 PM
I think you can safely ignore the /n part in that article. At least, that's what I did ;-).

BassFreq
01-27-2005, 10:05 AM
You can safely ignore the /n part in that article...unless they ask a question that depends on your understanding of it.

AFAIK, m/n represents per occurance limit / aggregate limit. In my last position, they called this a split limit.

Colymbosathon ecplecticos
01-27-2005, 10:20 AM
For private passenger auto, limits are usually given as:

per person (BI)/per occurrance/property damage (PD)

splitting BI and PD is "split limits"

Some states require (or allow) CSL (combined single limit), no BI-PD breakout.

There is no aggregate limit in private passenger auto. You can have a limit loss and the next day get into another and the next day ....

BassFreq
01-27-2005, 10:24 AM
I was working in Professional Liability where we did per occurance / aggregate.

Zorro
01-27-2005, 03:31 PM
You can safely ignore the /n part in that article...unless they ask a question that depends on your understanding of it. Well, duh.

Let me rephrase: for your understanding of the Lange article, the /n is irrelevant fluff that should have been removed by the author. It only obfuscates the information in an otherwise OK article.