How Much Is Business Insurance
for Actuaries?

Actuaries — more than any other profession — understand the nature of risk. Whether it's a lawsuit, theft, or accident, unexpected things can happen to any business. This is why there's actuary insurance to cover your business from unexpected losses.

Actuaries with higher revenue, more employees, and a history of insurance claims will have to pay higher premiums than a typical actuary contractor or small-business owner.

Below we've put together sample insurance quotes based on median costs for actuarial insurance. These should provide a helpful estimate.

Note: These sample insurance quotes are only rough estimates. Your actual costs may vary.

HOW MUCH IS
General Liability Insurance?

What Does General Liability Insurance Cost For Actuaries?

What would happen if your business were sued over third-party property damage, bodily injuries, or damage to another business's reputation? These risks — all covered by General Liability Insurance for actuaries — could lead to a massive lawsuit. Add up the cost of your legal defense and damages you owe an injured party, and a simple slip-and-fall accident could force you to file for bankruptcy.

Fortunately, General Liability Insurance covers your basic third party liabilities, paying for many common lawsuits that could be filed against your business by contractors, businesses, and other non-employees.

General Liability Insurance typically costs $350 - $425 for actuaries.

Average Premiums, Deductibles and Limits on General Liability Insurance Policies for Actuaries
Name USD

Median policy premium:

$350 - $425

Per claim limit:

$1,000,000

Policy limit:

$2,000,000

Median policy deductible:

Varies

To see how the cost of General Liability Insurance for actuaries compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Business Owner's Policy?

What Does a Business Owner's Policy Cost?

Actuarial services companies can save money on their premiums by getting a Business Owner's Policy, which packages General Liability and Property Insurance. When you sign up for these policies together, your insurer will offer you discounted coverage. A BOP offers you lawsuit protection as well as coverage for property losses, theft, and fire damage.

The typical Business Owner's Policy starts at $500 for actuarial services companies.

Average Premiums, Deductibles and Limits on Business Owner's Policies for Actuaries
Name USD

Median policy premium:

$500

Per claim limit:

$1,000,000

Policy limit:

$2,000,000

Median policy deductible:

$250

HOW MUCH IS
Errors and Omissions Insurance?

What Does Errors and Omissions Insurance Cost?

Because so much depends on an actuary's forecasts, your work comes with a plenty of professional liability. There's a lot of money at stake for your clients, who could file a lawsuit if they feel your work was subpar or contained errors. Errors and Omissions Insurance covers your professional liabilities, paying for lawsuits about miscalculations, data errors, and general business risks like miscommunication and missed deadlines.

Errors & Omissions Insurance for actuarial services companies typically costs $999 - $4,900.

Average Premiums, Deductibles and Limits on Errors & Omissions Insurance for Actuaries
Name USD

Median policy premium:

$999 - $4,900

Median Policy limit:

$1,000,000

Median policy deductible:

$10,000

To see how the cost of Errors and Omissions Insurance for actuaries compares with other industries, visit Insureon's Professional Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
Workers' Compensation?

How Much Is Workers' Compensation?

Actuarial services businesses will need to have Workers' Compensation Insurance to meet state requirements and cover their employees. State laws usually require employers to have this Workers' Comp (also called Workman's Comp), which pays for employee medical bills and lost wages following a workplace accident. While being an actuary isn't the most dangerous job on the planet, injuries and accidents can happen. In fact, the most common Workers' Comp claim is for a fall. Whether it's a case of carpal tunnel or a slip down the stairs, Workers' Comp can shield your company from the costs of workplace accidents.

Workers' Comp for actuaries typically costs $349.

Average Premiums, Deductibles and Limits on Workers' Compensation Policies for Actuaries
Name USD

Median policy premium:

$349

Accidental limit:

$500,000

Median policy deductible:

Varies

To see how the cost of Workers' Compensation Insurance for actuaries compares with other industries, visit Insureon's Workers' Compensation Insurance Cost Analysis New browser window icon..

Free Cost Estimate on Actuary Insurance

Free Cost Estimate on Actuary Insurance

Use our online insurance application and an insureon agent will send you a free quote on actuary insurance. We'll custom tailor a quote to fit your business's risks and email you cost estimates from top-rated insurance companies.

Grab-n-Go Information

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