They Specialize in Forecasting the Losses and Developing the Losses

question 29

Multiple Choice

They specialize in forecasting the losses and developing the losses' potential future impact on the insurers.They use mortality tables and life expectancy tables to estimate the future losses that the insurer must pay.Identify them.

• A)Accountants
• B)Underwriters
• C)Actuaries
• D)Covenants
• E)Assessors

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Definitions:

Medical Specialty

A branch of medical practice focused on a specific group of patients, diseases, skills, or philosophy, such as cardiology or dermatology.

Third-party Payer

An entity (other than the patient or healthcare provider) that pays for healthcare services, typically an insurance company.

Recovery Audit

The process of reviewing financial transactions and records to ensure compliance with policies and to recover overpayments or incorrect charges.

Underpayment

The act of paying less than what is due for a service, bill, or obligation.