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 ?
Lawmakers found that private insurers could not provide coverage for flooding due to its catastrophic nature and the inability to develop an actuarially based rate structure that adequately reflected the risks of flood-prone properties.
Under an actuarially fair premium, an increase in per capita insurance coverage does not have any influence on the average per capita consumption.
Actuarially fair insurance (at the margin), having the socially desirable property of inducing the insured to choose full coverage with no moral hazard, is provided only if insurers set [lambda] equal to [pi](x).
I have encouraged the Legislature to seriously consider the recommendations from the Citizens Task Force, especially the recommendation to create a glide path that would implement actuarially sound rates in specified increments, and the recommendation to allow no new development seaward of the 30-year-erosion projection line or in the Coastal Barrier Resources System designated areas to be insured by Citizens.
(1999) report load factors on actuarially fair quotes (the difference between the premium and the expected pension benefit) of 18 percent in the United States for 1995.
System wide funding of VRS declined over the past decade as the commonwealth set statutorily required contributions, partially used as budget balancing measure for the state, at less than actuarially sustainable levels.
In this context, and focusing on the GSWP, the main aim of this article is to compare actuarially fair social security rates based on the current social security factor rule and the proposed minimum retirement age [set out in the original text of PCA n.
* Base the employer's annual contribution on an actuarially determined contribution calculated at least every two years.
Tanden here is referring to an ill-fated ACA voluntary long-term benefits program, which died when Medicare actuaries declined to certify that it was actuarially sound.
Another issue the two courts took on was the fact that there has been a lack of an explicit definition to the term "actuarially sound." Clearly, actuarial soundness as to the length of the annuity is capped at the Social Security Administration (SSA) life expectancy table.
In addition to implementing recent legislation (Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014), FEMA is taking steps to become more actuarially sound by better aligning premiums with true risk.
First, when there is no liquidity constraint and no risk of insurer default, the usual result from static insurance theory that a risk-averse agent will choose full coverage of actuarially fair insurance continues to hold.