Actuary

The risk that the assumptions that actuaries implement into a model to price a specific insurance policy may turn out wrong or somewhat inaccurate. Possible assumptions include the ...

A type of account frequently used in the insurance industry to refer to reserves that are established for claims and/or events that have transpired, but have not yet been reported to an ...

One of several institutions of higher learning that teach courses related to specific aspects of insurance. The College of Insurance is a specialized institution that provides ...

A professional organization for academics and associates in the insurance industry. The American Risk and Insurance Association consists of carriers, scholars and individuals involved in ...

Gain or loss arising from the difference between estimates and actual experience in a company’s pension plan. Actuarial gains and losses are used when accounting for pension plans ...

A mathematical term relating to the likeliness of two independent events occurring. The compound probability is equal to the probability of the first event multiplied by the probability ...

A revision made to reserves, premiums and other values based on a company's actual loss experience as well as expenses and expected benefits to be paid.

What would happen if you were suddenly unable to manage your financial affairs? Preparation is the best protection.

A wealth of information on actuaries and what exactly they do.