Actuarial Risk

Actuarial Risk

The possibility that an actuary's assessment of a potential policyholder's risk may turn out to be incorrect. For example, if an actuary is using statistical models and determines a policyholder is likely to live for another 30 years, there is an actuarial risk that the policyholder will die tomorrow. This would result in a large loss for the insurance company. Actuaries work to improve their statistical models to minimize actuarial risk. See also: Actuarial analysis.
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Denuit, 2008, Modern Actuarial Risk Theory Using R, Vol.
The firm said that instead of considering a consumer's relative health status or actuarial risk, the programme calculates payments based on unrelated factors such as how an insurer's premiums compare to state wide averages.
But this focus had now shifted to a "purely fiscal approach of investment in health based on actuarial risk of individuals' ill health".
Their topics include human dangerousness and the legacy of fear management, an introduction to violence risk assessment with sex offenders, developing and evaluating actuarial risk assessment instruments, the importance of theory in assessing risk, and recommendation on science and forensic practice.
Davis states that "stand-alone hospitals have neither the number of patients to manage the actuarial risk of population management, nor the geographic coverage to serve a large population.
The ACA directs the Secretary, in consultation with the states, to establish criteria and methods to be used in determining the actuarial risk of plans within a state.
ACTUARIAL RISK PREDICTION AND THE MOVEMENT TOWARD EVIDENCE
An actuarial risk analysis concludes that because there have been so few attacks on control systems, there is little likelihood of such attacks in the future, justifying no additional protections.
First, actuarial risk, which is the traditional understanding of risk that is more or less quantifiable by technical experts.
In general, the ability to provide solid actuarial risk analysis can also help accelerate societal progress by making possible the development and introduction of new technologies and products that otherwise might be considered uninsurable and too risky.
States have used this reasoning to resist AWA adoption, contending that existing classification methods, which are based on actuarial risk, would provide a better means of ensuring public safety.
Participants will talk about the risk adjustment model, calculation of plan average actuarial risk, calculation of payments and charges, data collection approach, and the schedule for running risk adjustment.