Basic Understanding of Actuarial Reports

May 05, 2015

From IRMI and

We are not aware of anything that is completely on point for answering this question, but there are several articles in the IRMI library that may help. These articles in the archives of The Risk Report will be useful:

  • "Understanding Actuarial Concepts"
  • "Effective Use of a Casualty Actuary"

Risk Financing, the IRMI reference service covering all types of insurance alternative risk financing options, includes a discussion of “Using a Casualty Actuary.” This discussion delves into reasons for engaging an actuary, the process for selecting and retaining an actuary, and service contract terms, and includes a short section on interpreting the results of an actuarial study.

Lastly, the archives of Captive Insurance Company Reports (CICR) include quite a few articles on actuaries and actuarial analysis. Here are some that might be most useful to you.

  • "Actuarial Primer: The Chain Ladder Method"
  • "Actuarial Primer: The Bornhuetter-Ferguson Method"
  • "Actuarial Primer: The Berquist-Sherman Method"
  • "Debunking Actuarial Myths"
  • "Actuarial Analysis: More Art Than Science"

While some of the archived articles were written some time ago, the concepts they address are relatively timeless.

These IRMI reference products are available by subscription, either directly from IRMI on the IRMI Online platform or on the Vertafore ReferenceConnect platform. If you subscribe to either, a simple search of these titles will quickly locate the articles for you. If you do not subscribe, you can learn more about them here: