Lange Article

[Sam423]

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]

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]

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]

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]

Another common use of this similar to per person/ per occurrence, is per claim/ per occurence.

[Zorro]

I think you can safely ignore the /n part in that article. At least, that's what I did ;-).

[BassFreq]

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]

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]

I was working in Professional Liability where we did per occurance / aggregate.

[Zorro]

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.