(a) An Actuary is a person involved in life assurance, assessing risks and calculating premium based on the statistical information of pension funds.
(b)
Difference between contribution and group insurance are

Contribution	Group insurance
This is one of the principles of insurance	This is a type of insurance
A risk is insured with many insurance company	A group of employee takes out one single policy
Each insurance company involves is liable for only a proportion of the loss	The insurance company is liable for every one covered by the single policy

(c) The Types of risks which may be insured against are:
(i) Actual Total Loss: This occurs when the insured ship or goods are wholly destroyed, damaged or lost.
(ii) Constructive Total Loss: This expression means that the subject matter is so damaged as to be beyond economic repairs. The cost of repair would be more than what it would be worth.
(iii) General Average Loss: This is a partial loss. This refers to an extra ordinary loss or damage reasonably and voluntarily incurred by the ship's master in the common interest. For instance, a ship's master may be compelled by circumstances beyond his control to jettison some of the cargo.
(iv) Particular Average Loss: This means partial loss or damage to the ship accidentally for instance, damage by sea- water, collision, etc. It is borne by the owners of the property not the ship owners.