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1940
Daylight saving is a funny thing, for one reason because it is so wholly a product of the fact that we do not like to get up in the morning; it is just a little monument that we erect each summer to the bad habit of lying in bed.
1940
In reviewing Mr. Mills' paper I readily concede that there should be a saving of lives under daylight saving, but when you take into consideration the various factors that contribute to fatal accidents, you begin to doubt whether any set of facts are dependable upon which we can definitely state that lives will be saved, if we add a month of daylight saving in the spring and fall.
1940
Mr. Mills has boldly attacked one of the most difficult problems that confront the insurance actuary--the handling of raw statistics. It is gratifying that his study is concerned with automobile accidents, which present one of the most interesting and mysterious fields that the statistician can explore.
1940
Mr. Mills has presented a timely paper. Close to 40,000 fatalities and over 1,000,000 accidents a year is the current price exacted by the motor vehicle. These figures are tragic evidence of the need for ever-increasing endeavor and diligence to discover and act on ways and means of reducing them.
1940
The five reviews of this paper show the widespread interest of members of this Society in accident prevention and particularly in the part that statistics can play in bringing about a better nationwide motor vehicle fatality record. It is gratifying that the reviews, in the main are favorable to the conclusion reached by the author, namely, that the more general adoption of daylight saving time would save lives.
1940
Non-cancelable disability insurance, despite an arduous past, is being written today with apparent success by a small number of companies. In the past the insurance has often been associated with unlimited lifetime coverage, either as separate non-can policies or as disability income provisions in life insurance policies. Such association is not necessary.
1940
In his very comprehensive and thorough paper Mr. Farley has clearly expressed the important, yet intangible, factor covering non-cancelable accident and health experience; namely, that it is largely a function of human behavior. The difficulties that have arisen in the past in connection with this form of insurance have, to a considerable degree, been due to a failure to recognize this fact.
1940
A distinguished citizen of New England once wrote a letter to the Chairman of the Committee of Admissions of a very conservative club, which, for brevity and clarity should appeal to the mathematical mind.
1940
Mr. Farley's paper will appeal to two groups ; the students who are seeking educational material will find it a veritable textbook on non-cancelable insurance, while those of us who had close connection with that line from 1915-1930 will find it a stimulating analysis whenever we happen to be trying to sharpen our wits on the vexatious problem of how to meet with safety the public's need for health insurance.
1940
Mr. Farley has given us a scholarly picture of an important and intricate subject. This is one field where practical approximations are valuable to reduce the labor of calculation and are justified by the fact that morbidity rates vary widely with economic changes, underwriting practices and other factors. We may be especially grateful that the author has taken the trouble to cite alternative formulas and show how they differ.
1940
Mr. Farley is to be highly congratulated upon his paper on the subject of non-cancelable disability insurance. It is exceptionally complete and there is very little with which one can take any great exception.
1940
To those who participated in the discussion the author extends sincere thanks for the generosity of their comments and for their contributions in emphasizing and expanding a number of important points. Beyond that, there is little to say in review of the fine discussions.
1940
In 1936 Mr. Greene made certain comparisons as to the experience by industry groups, between the States of Ohio, New York, New Jersey and Massachusetts. He has seen fit to continue his attack on the monopolistic state funds. As far as I am concerned he can attack anything he wants to in the world, even tilt at windmills, as did a famous Don of old.
1940
At the November 1939 meeting, a paper entitled "The Practice of Workmen's Compensation Rate Making as Illustrated by the 1939 Revision of New York Rates" was presented by Mr. C. M. Graham.
1940
When I was asked by Mr. Constable, our vice-president, some three weeks ago to write a discussion of this paper, I did not even have an opportunity to see it. Nevertheless, being somewhat familiar with the subject, I agreed and shortly received some forty-six pages into which there were condensed the results of studies extending for a period of more than two years. If I add that the report of the Actuarial Committee to which Mr.
1940
Mr. Robbins' paper is a very welcome addition to the Proceedings of the Society because it gathers together in one place and
presents in a logical manner numerous scattered facts connected with the development of state supervision of the insurance business and the agitation for Federal supervision, beginning about 1850 and running up through recent times.
1940
In 1927, Mr. Paul Dorweiler presented a paper entitled "Observations on Making Rates for Excess Compensation Insurance" which is contained in Volume XIII of the Proceedings. Mr. Dorweiler commented upon various forms of partial coverage and outlined certain ratemaking studies which had been made to that date. Included in this survey was excess insurance per accident, which affords coverage for losses in excess of a fixed limit per accident.
1940
A workmen's compensation risk written on an ex-medical basis is a risk for which the employer obligates himself to assume the liability for medical payments to injured employees and to save the insurance carrier harmless there from, by means of a specific endorsement attached to the workmen's compensation insurance policy. Such risks shall be called in this paper briefly ex-medical risks.
1940
A study of the effect of daylight saving time on motor vehicle fatalities indicates that a considerable number of injuries and deaths might be avoided annually if clocks were advanced one hour throughout the nation from the first Sunday in April to the last Sunday in September. This result is suggested by a study of the 1938 and 1939 motor vehicle accident record of sixteen large cities, each with a population in excess of 250,000.
1940
Mr. Cahill has covered, in his usual thorough manner, this very important element of the New York Workmen's Compensation rate-making procedure and there is little that can be added to his complete exposition.
1939
Mr. Pinney's paper is a very comprehensive treatment of a relatively new method of applying an old principle. The Retrospective Rating Plan of which Mr. Pinney writes is a legitimatised form of "stop-loss" coverage (long the object of recrimination, argument, envy and despair from our primary carriers' viewpoint) with the addition of "service" and with rates based at least upon some experience.
1939
The method followed in revising Workmen's Compensation rates in the State of New York differs in some respects from the standard or National Council method. New York, however, is an industrial empire in itself. It produces the largest volume of workmen's compensation experience of any state in the Union.
1939
The simplicity and ease of operation of the tables of logarithms presented by Mr. Perryman at the November meeting are best appreciated after one has attempted to calculate annuity values with the tables and calculating machines to be found in the average office.
1939
When we start discussing "The Probable Effects of the Present War on the Casualty Business" we are immediately confronted with the problem of deciding the probable patter that the war will take, also its probable length and its probable severity. It would take a prophet to predict the course of the war whereas we are mere actuaries.
