Actual total loss – Total loss Actuary

Actual total loss – Total loss Actuary : A situation where the insured property is completely destroyed or damaged to the extent that it is beyond repair or is uneconomical to repair.A technical expert in the life insurance and related fields, particularly in the mathematics of life insurance. He is responsible for the calculation of premiums, policy reserves, and other values, and has additional executive’s duties in connection with the operation of the company. A person trained in mathematics whose job is to apply the theory of probability to the business of insurance and to advice in situations involving questions of probability.Comprehensive policies that automatically cover total loss scenarios with minimal exclusions.Policies specifically designed to address various total loss scenarios, including partial losses that cumulatively result in a total loss.