ACTUARIAL PRICING
\ˌakt͡ʃuːˈe͡əɹɪəl pɹˈa͡ɪsɪŋ], \ˌaktʃuːˈeəɹɪəl pɹˈaɪsɪŋ], \ˌa_k_tʃ_uː_ˈeə_ɹ_ɪ__ə_l p_ɹ_ˈaɪ_s_ɪ_ŋ]\
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In INSURANCE, the pricing of RISK based on probabilities of loss occurrence constructed from statistical distributions. Actuarial pricing is used to develop PREMIUMS that are intended to cover losses from underwritten risks and provide future benefits payable to beneficiaries. See also ACTUARIAL EQUIVALENT.
By Henry Campbell Black
Word of the day
Platidiam
- An inorganic water-soluble platinum complex. After undergoing hydrolysis, it reacts DNA produce both intra interstrand crosslinks. These crosslinks appear to impair replication and transcription of DNA. The cytotoxicity cisplatin correlates with cellular arrest in G2 phase cell cycle.