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.

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This precept provides that, where an actuary has knowledge of an unresolved, material violation of the code of conduct by another actuary, the first actuary should discuss the situation with the second and attempt to resolve the apparent violation.

Ethical Considerations

Students will have the option to consult with an actuary for questions on their project.

United States : Project Math Minds Competition Showcases the Actuarial Profession

When the actuary system is used, it is necessary to determine the activity field and the advisory field in insurance company.

The role of operational auditor toward the insurance technical computing (actuarial)

is the actuary aware of all intended uses of the report?

10 questions to ask your actuary

In addition, a set of computer-based modules exposes a broad range of techniques that the actuary can recognize and identify as to their application and inherent limitations.

Designations, designators and degrees: insurance professionals and aspiring professionals have opportunities to increase their knowledge of the industry through classes leading to an insurance designation and programs leading to a degree

Shaun Wang, actuary and research director at reinsurer SCOR Group in Schaumberg, Ill.

Actuaries eye risk roles

The contributor, Lawrence Eagle (a partner with the actuary and consulting firm of Bacon & Woodrow), provides an insightful analysis on the historic development of friendly societies, the financial and social functions friendly societies fulfilled, their historical legal and financial changes, and the consulting role actuaries played in their development.

Life, Death and Money

For example, an inquiry into whether the best estimate requirement has been satisfied may involve determining whether assumptions truly came from the plan actuary or were instead chosen by management for tax planning or cash flow purposes.

Current developments in employee benefits

The Vinson & Elkins actuary used conservative estimates to calculate plan contributions.

Fifth Circuit upholds conservative actuarial assumptions for pension plan contributions

As a result, it's usually up to the actuary for the seller's plan to declare the transfer in compliance with the law and the IRC.