Actuarially Indicated Sample Clauses
The 'Actuarially Indicated' clause defines the requirement that certain financial or insurance-related decisions, such as setting premiums or reserves, must be based on actuarial analysis and calculations. In practice, this means that determinations are made using established actuarial methods, data, and professional judgment to ensure that rates or provisions are adequate and not excessive or unfairly discriminatory. This clause ensures that financial decisions are grounded in objective, data-driven analysis, thereby promoting fairness, regulatory compliance, and financial stability.
Actuarially Indicated. This term means, with respect to Premiums paid by Companies for reimbursement provided by the FHCF, an amount determined in accordance with the definition provided in Section 215.555(2)(a), Florida Statutes.
Actuarially Indicated. This term means an amount determined according to principles of actuarial science to be adequate, but not excessive, in the aggregate, to pay current and future obligations and expenses of the fund, including additional amounts if needed to pay debt service on revenue bonds and to provide required debt service coverage in excess of the amounts required to pay actual debt service on revenue bonds, and determined according to principles of actuarial science to reflect each insurer’s relative exposure to hurricane losses.
Actuarially Indicated. This term means, with respect to Premiums paid by Companies for reimbursement provided by the FHCF, an amount determined in accordance with the definition provided in Section 215.555(2)(a), Florida Statutes an amount determined according to principles of actuarial science to be adequate, but not excessive, in the aggregate, to pay current and future obligations and expenses of the fund, including additional amounts if needed to pay debt service on revenue bonds and to provide required debt service coverage in excess of the amounts required to pay actual debt service on revenue bonds, and determined according to principles of actuarial science to reflect each insurer’s relative exposure to hurricane losses.