Actuary

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Actuary

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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She is a Fellow of the Casualty Actuarial Society, a Member of the American Academy of Actuaries and a Certified Specialist in Predictive Analytics from the CAS Institute.
The Resources and Environment Working Group of the International Actuarial Association has been working to connect actuaries from across the globe working on actuarial aspects of climate change.
Using panel regressions with random effects on a sample of 539 firm-year observations (256 unique firms from 2007 to 2009), we examine the association between the reserve error and the managerial incentives tested in the literature, conditional on whether appointed actuaries are OA or NOA.
By striking the balance between risk and opportunity, Actuaries can help create a more secure future for Filipinos.
Through research and education, the SOA's mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges.
Actuaries are wondering whether and how they can really distinguish between terms such as "simplified issue," "simplified underwriting" and "accelerated underwriting."
The American Academy of Actuaries is a 19,000-member professional association based in Washington, D.C., whose mission is to serve the public and the U.S.
"This exposes the insurer to interest rate risk that can be evaluated through cash flow testing," the actuaries say.
Precept 13 of the actuaries' code provides additional guidance for determining what to do in this situation.
In addition, there are so many differences in the way of cooperating of actuaries with each other and accessing to related data and studies to actuary science.
The actuaries discuss the pros and cons of each mechanism.
Actuaries have typically been depicted, rightly or Wrongly, as dull, numbers-oriented individuals and, at best, a necessary evil.