actuary

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Actuary

A statistician who works for an insurance company or other organization that assesses risk. The actuary computes various risk factors and determines the likelihood of whether (or when) an event will occur. For example, an actuary will look at a person's medical information, such as height, weight, and pre-existing conditions, and mathematically determine how likely it is that the person will cost the insurance company more than he/she will pay in premiums. This helps the insurance company decide whether the person will receive coverage and, if so, what the monthly premium will be.

actuary

a statistician employed by an INSURANCE COMPANY to calculate insurance risks and premiums.

actuary

a statistician who calculates insurance risks and premiums. See RISK AND UNCERTAINTY, INSURANCE COMPANY.
References in periodicals archive ?
Proposition 1 shows that full coverage continues to be optimal for actuarially fair insurance in a dynamic setting that requires up-front premium payment and delayed indemnities, as long as insureds face no liquidity constraint and do not perceive a risk of insurer default.
explaining how courts might use actuarially fair reformation instead of
Using the RNVR, the actuarially fair premium can be calculated as:
Section 4 derives the actuarially fair deposit insurance premium as a function of systemic risk separately for large and small banks.
The Background: Political crosswinds have hampered efforts to bring rates in line with actuarially sound pricing.
This Statement establishes standards for the measurement and financial reporting of actuarially determined information by agent employers with individual-employer OPEB plans that have fewer than 100 total plan members and by the agent multiple-employer OPEB plans in which they participate.
Citizens is required by law to charge actuarially sound rates.
In an effort to make the program more actuarially sound, the bill that would reauthorize NFIP phases out subsidized rates on vacation homes and second homes.
On the McCords' 1996 gift tax returns, the gifts' taxable values were based on the gross FMV transferred to the nonexempt donees ($6,910,933), reduced by the total Federal gift taxes payable and the actuarially determined present value of their obligations for additional estate taxes under Sec.
There are two funding methods available--the more common pay-as-you-go and the seldom-used advance funded on an actuarially determined basis.
We actuarially smooth our numbers, so we'll be recognizing these astounding gains (about $45,000 for every employee) over three years.
From 2013 a teacher wishing to retire early - that is, before the age of 65 - will have to accept an actuarially reduced pension.