Workmen's Compensation Insurance Ratemaking

The examination requirements of the Casualty Actuarial Society require some familiarity with ratemaking practices. Mr. R. A. Johnson, Jr. and Mr. C. M. Graham have presented papers before the Society dealing with the calculation of New York Compensation rates, and Mr. G. B. Elliott has dealt with the Pennsylvania procedure. Both of these calculations are somewhat special cases and it therefore seems desirable to set forth the standard ratemaking procedure as followed by the National Council on Compensation Insurance for states where compensation rates are under its jurisdiction.