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A casualty actuary priced an automobile "Fire and Theft" policy with an extremely low premium. When asked why it was so cheap, he said, "Who would steal a burnt car?"

A man with a wooden leg wanted to buy fire insurance for his leg. The first actuary quoted an annual premium of $500, estimating that the leg would burn once in 20 years and the value of the leg is $10,000. The second actuary quoted an annual premium of $50. When the second actuary was asked how he arrived at such a small figure, he replied, "I have this situation in the fire schedule rating table. The object is a wooden structure with an upper sprinkler, isn't it?"

An actuary is walking down the corridor when he feels a twinge in his chest. Immediately, he runs to the stairwell and hurls himself down. His friend, visiting him in the hospital, asks why he did that.
The actuary replies, "The chances of having a heart attack and falling down the stairs are much lower than the chances of having a heart attack only."

An actuary and an underwriter are watching the eleven o'clock news. A story comes on involving a man on a window ledge threatening to jump. The underwriter says, "I'll bet you fifty bucks he doesn't jump." The actuary says, "I'll take the bet."

A few minutes later they see that the guy does indeed jump. As the underwriter reaches for his wallet, the actuary says, "Never mind. It's not fair. I saw it on the six o'clock news." The underwriter responds, "So did I, but I just didn't think it would happen twice."

What's the difference between an insurance company actuary and a mafia actuary?
An insurance company actuary can tell you how many people will die this year, a mafia actuary can name them.

An actuary and a farmer were traveling by train. When they passed a flock of sheep in a meadow, the actuary said, "There are 1,248 sheep out there."
The farmer replied, "Amazing. By chance, I know the owner, and the figure is absolutely correct. How did you count them so quickly?"
The actuary answered, "Easy, I just counted the number of legs and divided by four."

What's the difference between an actuary and an accountant?
An actuary does much the same thing as an accountant but lacks the accountant's bright and vivacious personality.

How actuaries do it...

Actuaries do it without risk.
Actuaries do it with frequency and severity.
Actuaries do it until death or disability, whichever comes first.

How many actuaries does it take to change a light bulb?
"How many did it take last year?"

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