Rate Regulation and the Casualty Actuary—Revisited

In the aftermath of the SEUA Case (322 U.S. 533), Public Law 15, effective March 9, 1945, gave the states until January 1, 1948 (later ex- tended to June 30, 1948) to enact regulatory legislation so as to prevent complete application of the federal anti-trust acts to the insurance industry. The resulting casualty rating legislation, largely variations of a model bill drafted by an All-Industry Committee (AIC) in cooperation with the National Association of Insurance Commissioners, was described by Thomas 0. Carlson in a paper entitled “Rate Regulation and the Casualty Actuary” and presented to this Society in 195 I .l