Actuarial Science


Definition of "Actuarial science"

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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Actuarial

Same as term: Actuarial Science: branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that r ...

Fellow, Society Of Actuaries (fsa)

Designation earned by passing 10 national examinations on subjects including mathematics of life and health insurance, actuarial science, insurance, a ...

Fellow, Casualty Actuarial Society (fcas)

Designation earned by passing 10 national examinations on subjects including mathematics of property and casualty insurance, actuarial science, insura ...

College Of Insurance

Four-year institution of higher learning. The degree programs include insurance, risk management, actuarial science, and financial services. ...

Contributory Negligence

Principle of law recognizing that injured persons may have contributed to their own injury. For example, by not observing the "Don't Walk" sign at a c ...

Premium Discount

Reduction in rate reflecting the present value of a premium due on an annuity one year hence. ...

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