Contingency Loading - New York Workmen's Compensation Insurance [Discussion]

Mr. Cahill has covered, in his usual thorough manner, this very important element of the New York Workmen's Compensation rate-making procedure and there is little that can be added to his complete exposition. The contingency loading, which has played a very important part in transforming the compensation business from a most unprofitable basis to a fairly respectable line, will be entirely eliminated as far as New York is concerned in the revision effective July 1, 1940. It is hoped that it will be many years before the need for this loading again arises.