A new business method involving the algorithmic use of data from a wide variety of sources to provide the actuarial information needed to accurately assess the exposure liability and risk probabilities associated with the performance of any specific medical (or other) procedure or service. The major factors include, but are not necessarily limited to, 1) the procedure, 2) the physician or individual, 3) the patient (procedure recipient), and 4) regional or geographic considerations. In the case of medical procedures, an algorithmic actuarial determination of a per-procedure, one-time application insurance policy specific to the procedure, physician, patient, and location of region (e.g., state, county, city, etc.), as well as any additional risk factors which my be applicable.