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LSDefine

Simple English definitions for legal terms

actuary

Read a random definition: loss

A quick definition of actuary:

Actuary: An actuary is a person who uses math to figure out how much money insurance companies should charge people for insurance. They look at things that might happen in the future and use that information to decide how much money people should pay now to be protected later. Actuaries also help companies figure out how much money they need to save to pay for things like retirement plans for their employees.

A more thorough explanation:

Definition: An actuary is a statistician who uses empirical data to determine the present effects of future contingent events. They are responsible for calculating insurance and pension rates based on statistical analysis.

Example 1: An actuary may use data on the life expectancy of a certain demographic to determine the cost of life insurance for individuals in that group.

Example 2: An actuary may analyze data on car accidents to determine the likelihood of a driver getting into an accident and use that information to calculate car insurance rates.

Both examples illustrate how an actuary uses statistical analysis to determine the likelihood of future events and calculate rates based on that information.

actuarius | actum

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[] baddestbunny
16:02
kms isn't even a t50 you should r&r
does anyone ever think about how we have no idea who everyone else here is? like you guys dont know me at all thats so crazy cause i talked to you more than ppl irl today
i'm a hallucination
the hat man
HopefullyInLawSchool
16:03
isnt r&r a t50?
keep popping benadryls and ill stay online
law school chat roulette
[] baddestbunny
16:04
living out the plot of the movie unfriended in the yale invite-only webinar
You were only invited to round out the numbers anyway lol
Dkk
16:05
I'm too old to r&r, just gunna kms rn.
Dkk
16:05
Gotta get this show on the road.
Dkk
16:05
Lmfao
JumpySubsequentDolphin
16:05
washu stop emailing me while I’m waiting for a decision challenge
[] baddestbunny
16:05
I'm not in their webinar I just thought it would be a funny thing to have happen
[] baddestbunny
16:05
bc I have a sense of whimsy and imagination
Ah, youre a worm gorl'
shaquilleoatmeal
16:07
battle of the bunnies
How bout dat ASU wave
letsseehowitgoesnow
16:08
bunny hows it looking out there?
[] baddestbunny
16:08
I just think it's weird when a make a joke about everyone in the yale webinar being tortured by a malevolent spirit and someone says you only got invited to round out the numbers
why
go off queen
[] baddestbunny
16:09
which number am I rounding out? 5'4 women who deserve to be tortured?
someone invited to the yale webinar would get it
[] baddestbunny
16:10
if you don't get invited to the yale webinar canada sends you an email letting u know you qualify for MAID
what's that
Send MA ID
BulbasaurNoLikeCardio
16:16
LawHub blocking me from status checker, guess I ain't going to law school now
"Go touch grass" - Lawhub
BulbasaurNoLikeCardio
16:17
Pretty much lol
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