The rates insurance companies must charge to cover costs and make a reasonable profit are calculated by

Question

Quizplus · Accepted Answer

Actuaries are professionals who analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. Therefore, actuaries are the ones responsible for calculating the rates insurance companies must charge to cover costs and make a reasonable profit.

The Rates Insurance Companies Must Charge to Cover Costs and Make