Compensations Expenses per Policy

In view of the recent history of compensation underwriting results and the attendant activity to stem the tide of loss in surplus, it is natural to find that most of the progress in casualty actuarial science as applied in late years to workmen's compensation has been concentrated in the development of rate making plans. Through the force of circumstance, the problem of compensation rate level has come to be regarded as supreme when, in more rational times, there undoubtedly would have been a well-rounded evolution of rate-making theory, including not only the procedure for determining general rate levels but also the adjustment of the premium of the individual risk to conform more closely to its probable cost.