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actuary
(redirected from actuarial)

   Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson 0.02 sec.

actuary

One 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.



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North American insurers increasingly are seeking the services of external or unaffiliated actuarial firms to provide actuarial opinions for annual statutory filings.
* Provide information about the actuarial accrued liabilities for promised benefits associated with past services and whether and to what extent those benefits have been funded
has promoted Alice Rosenblatt to executive vice president, actuarial and integration planning and implementation.
 
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