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actuary |
Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson | 0.07 sec. |
actuaryOne who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. They also evaluate the hazards of property damage or loss and the legal liability for the safety and well-being of others. Usually employed by insurance companies, actuaries set premium rates based on statistical studies, establish underwriting procedures, and determine the amounts of money required to assure the payment of benefits. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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It is lamentable to think of; but this restraint was the result of no arithmetical process, was self-imposed in defiance of all calculation, and went dead against any table of probabilities that any Actuary would have drawn up from the premises. |
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