The term "law-averages" refers to the principle of insurance that is based on the law of large numbers. However, there are several other terms that can be used interchangeably with this term. These synonyms include statistical expectations, deviation from the norm, risk assessment, standard deviation, frequency distribution, normal distribution, and actuarial statistics. These terms are used in the insurance industry to analyze and forecast the risk and potential costs associated with a particular policy or program. By understanding the synonyms for "law-averages," insurance industry professionals can better communicate and understand the complex concepts associated with risk management.