is any packet loss acceptable?

I always thought it was better to get rid of all packet loss if possible, but the ISP my employer uses has told us up to 10% packet loss on a data link is acceptable. For example, we have a fibre that is capped at 100M, but we get increasing packet loss once we cross over the 80M mark.

Any thoughts on that? Are we expecting too much to think a 100M link does not have packet loss? I did think maybe it's the way they apply the bandwidth limitation, but if that's the case wouldn't packet loss start at 100% when we hit 100M?