Abstract
It is difficult to imagine that anyone with a just appreciation for historical facts is likely to be much influenced by those who would summarily dismiss all that has gone before in the fire insurance field as the workings of an industry, hide-bound in its conservatism, devoted to the past, and inflicted with a never-ending infancy. Hopefully, we can help to dispel any such notion in the few introductory sections of this paper which, with a due regard for historical precedence, will attempt to explain the actuarial procedures currently used to evaluate commercial fire insurance rate levels and to determine classification adjustments needed to implement such requirements. And, maybe, it will not be taken amiss that one who never hidden his partialities (well founded, we believe) for the fire insurance ways, must warn of the changes even now upon us. Things which seemed impossible just a short time ago are now taking place with the dynamic changes in industry thinking and responses.
LOB-Fire and Allied Lines
Volume
LX
Page
208-257
Year
1973
Categories
Business Areas
Fire and Allied Lines
Actuarial Applications and Methodologies
Ratemaking
Publications
Proceedings of the Casualty Actuarial Society
