Definition of "Actuarial science"

Stephen A. Raffaelli Jr. real estate agent
Stephen A. Raffaelli Jr., Real Estate Agent Berkshire Hathaway HomeServices PenFed Realty

Branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that risks are carefully evaluated, that adequate premiums are charged for risks underwritten, and that adequate provision is made for future payments of benefits.

 

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