Experience Rating In Rem and In Personam [Discussion]

This paper not only introduces a novel idea, but is in itself unique, in that it treats of an administrative problem instead of the usual subjects which have been presented at the meetings of the Society. The fundamental problems of making rates, rating plans and rules governing their application, are urgent and must necessarily come first. This might be termed the legislative function. Of no less importance in the development of casualty insurance is the interpretation and final administration of the plans which have been adopted. Unquestionably the executive and judicial functions demand thought and study since a lack of intelligent and consistent application of laws and codes tends to defeat their purpose and to destroy public confidence in the entire system.