Actuarial Rate
Barron's Insurance Dictionary:
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Actuarial Rate
Rate based on historical loss experience, from which future loss experience is predicted.
See also actuarial equivalent, actuarial science, rate making.
See also actuarial equivalent, actuarial science, rate making.
| Actuarial Gains and Losses, Actuarial Equity, Actuarial Cost Methods | |
| Actuarial Science, Actuarialequivalent, Actuary |
Investopedia Financial Dictionary:
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Actuarial Rate
Actuarial rate is an estimate of the expected value of future loss. Usually, the future loss experience is predicted on the basis of historical loss experience and the consideration of the risk involved. Accurate actuarial rates help protect insurance companies against the risk of severe underwriting losses that could lead to insolvency.
Investopedia Says:
Generally, during the rate review, it is first determined whether the actuarial rates need to be adjusted. A projected loss experience gives the insurance companies the ability to determine the minimum premium required to cover expected losses.
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Barron's Insurance Dictionary
Dictionary of Insurance Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
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