Actuarial Basics

  • 10 Posts
  • 1 Sections
  • 1 Types
Actuarial Basics
Actuarial Basics
Actuarial Basics
Core pricing, loss, reserve, and premium terms used in insurance.
Read more about Actuarial Basics.
Actuarial Basics
Combined Ratio
Actuarial Basics
Underwriting measure that adds losses and expenses against earned premium.
Read more about Combined Ratio.
Actuarial Basics
Earned Premium
Actuarial Basics
Portion of premium attributed to the coverage period that has already run.
Read more about Earned Premium.
Actuarial Basics
Expense Ratio
Actuarial Basics
Underwriting-expense measure used alongside loss ratio and combined ratio.
Read more about Expense Ratio.
Actuarial Basics
Incurred Losses
Actuarial Basics
Claims-cost measure combining paid amounts with reserve changes.
Read more about Incurred Losses.
Actuarial Basics
Loss Frequency
Actuarial Basics
Claim-occurrence rate for a defined book of business or exposure base.
Read more about Loss Frequency.
Actuarial Basics
Loss Ratio
Actuarial Basics
Claims-cost ratio showing how much earned premium is consumed by losses.
Read more about Loss Ratio.
Actuarial Basics
Loss Reserve
Actuarial Basics
Estimated amount set aside for claim payments and related claim obligations.
Read more about Loss Reserve.
Actuarial Basics
Loss Severity
Actuarial Basics
Average size of claims when they occur in a given line or portfolio.
Read more about Loss Severity.
Actuarial Basics
Unearned Premium
Actuarial Basics
Portion of premium still tied to the unexpired part of the policy term.
Read more about Unearned Premium.