Actuary


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Actuary

An accredited insurance mathematician who calculates premium rates, reserves, and dividends and prepares statistical studies and reports.
References in periodicals archive ?
Claim reserving is a key actuarial role in non-life insurance, when working in this function communication of Actuary with other departments is important particularly with claims, finance and legal.
The duty to disclose the mistake may be reinforced by Precept 8 of the actuaries' code, which indicates that an actuary should take reasonable steps to ensure that actuarial services are not used to mislead other parties.
Even though it is consistently ranked as a top job in America, many high school students are unaware of the actuarial profession, the steps required to become an actuary, and that it remains one of the most sought-after professions, said Kevin Cormier, FCAS, MAAA, senior actuary, trustee of The Actuarial Foundation and Project Math Minds chairperson.
The actuary activities conclude recognizing the possibilities of insurance risks, use of statistical models, and use of calculated cash flow.
For those that go this route, here are 10 questions that a risk manager should discuss with their actuary.
Riggieri is VP and chief actuary for Unum US in its Portland, Maine offices at present and further, started his career with Unum's predecessor The Paul Revere Life Insurance Company in 1980 and has been VP and actuary of Unum US since 1998.
When a marketing officer asked an actuary why he recommended selling more life insurance policies to 98-year-olds, the actuary replied, "According to our tables, very few of them die each year.
Description: A candidate for membership must be substantially engaged in consulting actuarial practice; in work as an actuary of a governmental unit; in work as an Enrolled Actuary; in work at an insurance company; or in teaching actuarial science and satisfy any one of three independent criteria.
Actuaries' desire to be involved in ERM has not translated into action," says Prakash Shimpi, an actuary who's president of consulting firm Fraime LLC in Florham Park, N.
Officials blamed the underpayment on a pension actuary and said they might need to pay $3 million a year for the next 15 years to compensate for shortchanging the Los Angeles City Employees Retirement System.
Structurally, following an introductory chapter about what actuaries do, whom they work for, and what their professional code of conduct is, the book moves from the earliest days of rudimentary actuarial work and insurance, through the beginnings of scientific life insurance in the 1700s, to legal and financial development of the insurance industry of today, and finishes with a concluding essay on the futu re of the actuary.