In INSURANCE, a statistical measure based on the expectation that a loss will occur, and the benefits that will become payable as a result. By computing this measure, the INSURER can vary the PREMIUM it charges INSUREDS. See also ACTUARIAL PRICING.
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In INSURANCE, a statistical measure based on the expectation that a loss will occur, and the benefits that will become payable as a result. By computing this measure, the INSURER can vary the PREMIUM it charges INSUREDS. See also ACTUARIAL PRICING.
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