'Workmen's Compensation Injury Table' and 'Standard Wage Distribution Table'--Their Development and Use in Workmen's Compensation Insurance Ratemaking

Workmen's Compensation Insurance Ratemaking is, in its broad aspects, similar to ratemaking in the other fields of casualty insurance. It is known, for example, that the various casualty lines are engaged in a common search for rates that are "adequate" but "not excessive" or "discriminatory"; that in order to attain this common objective, it generally involves the accumulation and analysis of a large volume of loss experience which is adjusted to reflect current conditions through the application of experience modification factors.