Notes on Exposure and Premium Bases [Discussion]

The members of the Society and especially Associates who are about to prepare for the Fellowship Examinations should be very grateful to Mr. Dorweiler for the preparation of this paper which deals with a subject that is fundamental to the principal lines of casualty insurance. This paper not only gives the basis of premium for each line, but also gives the reason why the basis of premium which is used in each case is preferable to other possible bases. For a student who is just beginning his work in casualty insurance this paper will give a very complete introduction to the more complicated details which are to follow.