It wont go higher without modding the Game Setting fPlayerMaxResistance to 100 in the CK.
85%, actually. But no, you can't gain immunity.
Oh ok, full immunity would have been pretty awesome though Thanks for the help guys!
You can try getting some magic resistance to further protect your character from frost. It's applied after elemental resistance - or before? I never remember. In any case, magic res is applied to the remaining 15% of frost damage, so theoretically the final received damage can go as low as 2.25% (if both frost and magic resistance are maxed out).
Dragon's fire/ice attacks don't count as magic though, do they?
Yes, add some gear that give magic resistance. I did that with fire resist gear, and I already have perks and innate magic resistance with my Breton. Works well!