Noun Actuarial Definition and Examples
Definition:
1.adjective
Relating to actuaries or their work of compiling and analysing statistics to calculate insurance risks and premiums.
- 'faulty actuarial assumptions'
- 'Each valuation shall be obtained as soon as reasonably practicable and shall be accompanied by an actuarial statement pursuant to the regulations.'
- 'Too conservative or too aggressive actuarial assumptions can produce unreliable results.'
- 'The last actuarial valuation on its pension fund was undertaken more than two years ago.'
- 'It is a mistake to suppose that the actuarial figure for life expectancy will be the actual length of life for any particular individual.'
- 'There is an inherent uncertainty in any actuarial estimates of asbestos liabilities.'
noun, plural actuaries.
1.
Insurance. a person who computes premium rates, dividends, risks, etc., according to probabilities based on statistical records.
2.
(formerly) a registrar or clerk.
Examples:
"actuarials can firm in places."
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