A Procedure for Making Rates for Workmen's Compensation Insurance Based on a Consistent Application of the Theory of Probabilities [Discussion]

I have been asked to discuss Mr. Mowbray's paper from a mechanical rather than an actuarial standpoint. Whenever changes are proposed in a ratemaking system the mechanics of operating the proposed methods must be considered as well as the theory underlying the method. If the procedure is complicated and cumbersome, the benefits gained by the changes proposed can be much more than offset. This, however, is not true of the changes in the method of ratemaking proposed in Mr. Mowbray's paper.