Casualty actuaries will continue to be involved in the development of product liability insurance, medical malpractice and workers' compensation coverage, and self-insurance, which may involve internal reserve funds established by some large corporations. The growing need to evaluate catastrophic risks such as earthquakes and calculate prices for insuring facilities against such risks, which may involve huge losses, will be an increasing source of demand for property and casualty actuaries. So is planning for the systematic financing of environmental risks, such as toxic waste clean-up. New college graduates entering the actuarial field without having passed any actuarial exams averaged slightly lower salaries. Insurance companies and consulting firms give merit increases to actuaries as they gain experience and pass examinations.
Some companies also offer cash bonuses for each professional designation achieved.
Actuaries typically receive other benefits including vacation and sick leave, health and life insurance, and pension plans. Related Occupations Actuaries determine the probability of income or loss from various risk factors. Other workers whose jobs involve related skills include accountants, economists, financial analysts, mathematicians, and statisticians.