Actuarial life insurance property insurance

Insurance is an economic form to establish the economic relationship between the two parties in the form of a contract, and to compensate or pay the losses caused by disasters and accidents by paying insurance premiums within the scope stipulated in the insurance contract, thus establishing an insurance fund. Insurance actuaries, also known as actuaries, are mathematical professionals employed by insurance companies, mainly engaged in the calculation of insurance premiums, compensation reserves, dividends, insurance amounts, pensions and annuities. The calculation basis comes from the claim reference table, which is based on the experience and relevant statistical data of the company and its peers. Actuaries are usually divided into two categories: individuals and accidents. Life insurance actuaries deal with the risks of life insurance, annuity insurance, pension insurance, disability insurance and medical insurance related to illness, health and natural death. Accident actuaries mainly deal with the risk of accidents to people and property. In some countries, it is called general insurance, and in the United States, it is called property/accident insurance. Accident and liability are the same concept. These risks include automobile insurance, personal residence insurance, commercial property insurance, employee compensation insurance, rights insurance, medical accident insurance, product liability insurance, employer liability insurance, environmental liability insurance and other liability insurance.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.