An actuary is a professional who specializes in dealing and calculating risks and their financial impact. An actuary is a very broad term for a professional who usually takes up one of the many branches in the field of actuarial science and profession. An actuary needs to have excellent knowledge in multiple fields such as mathematics, statistics, and social sciences. This means that very few people in the world are capable of performing this job which in turn means that actuaries are very well paid for their adroitness in calculating risks and damage control.
Insurance is designed for undesirable circumstances and paying a small price for protection against such big losses is sensible. However in the event of a catastrophe, a person may not be covered fully and moreover has to pay the deductible if applicable. Therefore it is in the best interests of a home owner to make sure that the house is equipped to handle disasters in an efficient manner.
