Current Rate Making Procedures for Automobile Liability Insurance

This paper presents a description of basic procedures currently used in rate making for Automobile Liability Insurance. Like Mr. Marshall's paper on Workmen's Compensation Insurance Rate Making, this paper is directed at the student of casualty insurance. The presentation of the subject is purely descriptive and does not attempt any evaluation of the rate making procedures, nor does it contain any original research. Technical terms will be explained as they occur, and examples of the various steps involved in the rate making process will be illustrated by exhibits taken from the most recent rate revisions, primarily the most recent private passenger rate revision in New York.