Classification of Risks as the Basis of Insurance Rate Making with SpecialReference to Workmen's Compensation Insurance

Classification of risks in some manner forms the basis of rate making in practically all branches of insurance. It would appear therefore that there should be some fundamental principle to which a correct system of classification in any branch of insurance should conform, even though in its application to each particular line the general principle may take what seem to be discordant forms. It is the purpose of this study to seek out this principle and if found, attempt to apply it with special reference to workmen's compensation insurance, in which the problem of a correct classification system seems to be of special importance.