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A statistician who computes insurance and Pension rates and premiums on the basis of the experience of people sharing similar age and health characteristics.

The profession also includes statisticians who provide expert data analysis on risk assessment and risk management for the financial services sector. Actuaries are most often employed within the insurance industry, but also prepare and assess data for commercial and investment banks, retirement and pension fund administrators, or are self-employed as consultants. Specific data prepared by actuaries is often presented in the form of actuarial tables (mortality tables) that indicate the life expectancy of an individual. Such tables may be used as the bases for calculating estimated insurance premiums or monthly retirement annuities. When utilized by expert witnesses, actuarial tables are admissible in evidence to show life expectancy. Juries may award damages to plaintiffs for compromised life expectancy resulting from the alleged wrongdoing of tortfeasors (wrongdoers).

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

ACTUARY. A clerk in some corporations vested with various powers. In the ecclesiastical law he is a clerk who registers the acts and constitutions of the convocation.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
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Those interested in learning more about the attending Illinois State's Actuarial Science Program, can contact Ostaszewski at (309) 438-7226 or
The Actuarial Foundation is a 501(c) (3) organization committed to changing lives through math education.
With roots dating back to 1889, the Society of Actuaries (SOA) is the world's largest actuarial professional organisation with more than 30,000 actuaries as members.
The CAS and SOA said they have identified several potential benefits a combined organization could offer, including more resources to prepare members for evolving fields and opportunities; a unified actuarial education system that leverages best practices and innovations from both organizations; enhanced diversity of thought and efficiency to serve members; and, a stronger global brand for the actuarial profession.
Computational Actuarial Science With R is divided into four main parts: Introduction to R Language, Statistical Models With R, Methodology, and Life Insurance, Finance, and Non-Life Insurance.
The actuarial function within many property and casualty (P&C) insurers has historically remained constant, but the rising pressures and challenges have led to greater demands.
Another way is to see how the average actuarial value of the coverage has changed.
"The ALA Guide to Information Sources in Insurance, Risk Management, and Actuarial Science" includes an introduction defining risk management and describing its use in the insurance industry and the field of actuarial science.
The government actuary is the principal actuarial adviser to the government and is responsible for leading the Government Actuary's Department and is its accounting officer.
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