Actuarial Rate

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Actuarial Rate

An estimate of the future loss on a pension fund based on historical loss under similar circumstances. The actuarial rate may be right or wrong, and can result in an actuarial gain or an actuarial loss for the company. See also: Actuarial Assumptions.
References in periodicals archive ?
The actuarial rates charged for flood coverage under the NFIP are not sufficient, and it's created a debt of about $25 billion.
Now with new actuarial rates, private carriers see some money can be made," added Kammas, who explained that even if the bill passes, the NFIP will still be able to offer flood insurance, but they will no longer be the primary provider of flood insurance.
The proposition faces opposition from some lawmakers who believe people who could afford second homes or vacation homes generally have sufficient income to pay actuarial rates for flood insurance.
They would also need to compete with the NFIP, which as a government entity is able to offer coverage that is, on average, below actuarial rates.
5% of sum insured for food & oilseed crops; incase of annual commercial/horticultural crops and higher sum insured & indemnity level than that of normal for food & Oilseed crops, actuarial rates of premium are charged; 10% premium subsidy for small & marginal farmers; Financial liability except where actuarial premium is charged, is shared between the Central and State Governments on 50:50 basis.
Three months before Superstorm Sandy struck, Congress passed legislation phasing in actuarial rates for those insured through the National Flood Insurance Program (NFIP).
What they should have been referring to was the 2012 law reauthorizing the National Flood Insurance Program (NFIP) and mandating that subscribers pay actuarial rates.
Those reforms include phasing in new actuarial rates for certain properties, such as second and vacation homes, commercial properties, homes sold to new owners and repetitive loss properties, during the next five years.
Additional optional policy coverage would be added under the bill, allowing business owners to purchase business-interruption coverage at actuarial rates to better prepare them to meet payroll and other obligations during the next big storm.
Anyway, the income the pension pot buys at the end of it all depends on actuarial rates prevailing at the time, which nobody can guess.
GAO reviewed the Centers for Medicare and Medicaid Services' (CMS) rule on monthly actuarial rates for aged and disabled enrollees in the Medicare Supplementary Medical Insurance (SMI) program for 2003 and the monthly and the monthly SMI premium rate to be paid by all enrollees during 2003.
It is believed that by forcing corporations to recognize more conservative valuations for pension liabilities, the new standards give will managements a strong motive to compensate by using discretionary actuarial rates that may be advantageous in the short run, but are ultimately unrealistic.
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