Recent Examples of actuary from the Web
Ironically, policy maturity dates were born as a way to help consumers get a reasonable value out of a policy after years of ownership but before a death, said Paul Graham, a senior actuary with the American Council of Life Insurers.
Actuary Spending long hours crunching numbers and assessing risks and benefits in almost perfect solitude is the life of the actuary.
Strategic Chrissy, an actuary from New Jersey, finished second.
Bruce Schobel is a retired actuary with over 2,400 lifetime nights at Marriott.
Medical providers, actuaries and insurers fear that without the penalties, fewer people will sign up for coverage than do already, causing problems with the individual marketplace.
The combined shortfall in the police and fire funds stood at $77 million as of the beginning of this year, according to the most recent valuations by an independent actuary.
More than 250 years later, however, the science of predicting mortality has remained stagnant, left to insurance actuaries using antiquated statistical techniques based on limited data.
But actuaries and industry officials said the shift could create problems for insurers that offer plans under the Affordable Care Act, both to individuals and small businesses.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'actuary.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Origin and Etymology of actuary
Financial Definition of ACTUARY
What It Is
An actuary is a person who evaluates the likelihood of certain events and creates plans to deal with those events.
How It Works
Actuaries must understand business, have good analytical skills, and be aware of how human behavior affects risk. In the insurance business, for example, actuaries use an issuer's costs to calculate premiums for policyholders. They also make estimates of damage after big events, such as hurricanes or earthquakes. Additionally, they may use medical records, geological information, or other data to predict things such as how long a customer will live or where the next big earthquake will occur. Comfort with statistics is key.
Actuarial work typically requires a bachelor's degree, and actuaries must also pass a series of exams to earn a professional designation through the Casualty Actuarial Society or the Society of Actuaries. It can take six to 10 years to pass all the tests. In 2010, the median pay for actuaries was $87,650 per year.
Why It Matters
Because actuaries manage risk, many work in the insurance industry, but many also work in private industry, as consultants, at accounting firms, in banks and in other organizations.
ACTUARY Defined for English Language Learners
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