Actuarial Equivalent
Definition of "Actuarial equivalent"
Mathematical determination based on the expectation of loss and the benefits to be paid in such an eventuality. The premium charged will vary directly with the probability of loss.
Popular Insurance Terms
Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
Technique of risk management (better known as retention or self insurance) under which an individual or business firm assumes expected losses that are not catastrophic losses through the ...
Process of discovering sources of loss concerning the property risk faced by individuals and business firms. The first step is to analyze possible perils that can damage or destroy both ...
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