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1926
The study which Mr. Voogt and Mr. Mowbray have made and have described in their paper presented at the last meeting show intensely interesting and significant results, which should also prove to be of great value if they succeed in instigating more wide spread and more extensive studies along the same line. But compensation rate making has passed through an experience which no one wishes to have repeated.
1926
Mr. Tarbell's analysis, at once comprehensive and detailed, of the uses of the Hollerith premium card may, I believe, be supplemented by a brief account of the development of the premium card in a casualty company of a few years' growth.
1926
The main purpose of this paper is not to give a detailed description of the Hollerith system of accounting but rather to emphasize certain uses of the system in accounting work which are somewhat out of the ordinary or not in general use. The system is so well known to all casualty men connected with accounting in companies or bureaus that a description of its fundamentals is scarcely justified.
1925
Compensation insurance has felt for some time the need of a reasonably stable rate making plan, Frequent and drastic changes in method have lessened the public's confidence in insurance carders, strengthened "sales resistance" to needed rate increases, and disturbed company underwriting policy.
1925
In recent years there has been a strong movement in several states looking toward the establishment of an old age pension law for the general population. Montana, Nevada, and Pennsylvania in 1923, and Wisconsin in 1925, passed such laws.
1925
A knowledge of court decisions and their tendencies in workmen's compensation cases is of importance to the casualty actuary for the same reason that an understanding of legislative enactments is necessary to a proper valuation of insurance costs.
1925
The Examination Syllabus of our Society (Associateship, Part II, Section 5)* calls for a knowledge, on the part of the student sitting for the Associateship Examinations, of insurance law, including the more important statutes of the United States and Canada (for Canadian candidates) relating to casualty insurance.
1925
We, of the insurance business, are apt to think of ourselves as being excessively subject to regulation if not persecution by state officialdom. It is well, therefore, that we have now and then from the pen of an experienced legislator and public official so sound an exposition of the tendency of legislative thinking on the regulation of economic activities in general as is contained in the earlier paragraphs of Mr. Hobbs' paper.
1925
The stretching out of the long arm of the state to regulate and control the prices to be charged for insurance is a single incident in a legislative program very widespread in its scope.
1925
The manufacture of glass has been going on for centuries and has developed into a mammoth business. During recent years it has received a tremendous stimulus from automobile manufacturers who use great quantities of it and a few of whom are now engaged in manufacturing their own glass. It is estimated that the amount of glass used in automobiles in the United States in the year 1924 exceeded the entire plate glass output in this country in 1910.
1925
The purpose of this paper is to call attention to the general tendency of labor saving methods to increase compensation costs, principally because of the relative increase in accidents wherever non-hazardous payroll is diminished by the substitution of machines for men, and to suggest ways and means of making a thorough-going investigation of the subject.
1925
In a former paper ("A New Graphic Method of Using the Normal Probability Curve" in the Proceedings of this Society, Volume II, page 120) I called attention to the fact that if the equation of the normal probability curve is written
1925
In his presidential address at the May 1924 meeting, Mr. Leslie, recounting the future problems of casualty actuarial science, said among other things: "But there is one that is so appealing to the imagination and that has such potentialities that I can not refrain from mentioning it, if for no other purpose than emphasis.
1925
This paper not only introduces a novel idea, but is in itself unique, in that it treats of an administrative problem instead of the usual subjects which have been presented at the meetings of the Society. The fundamental problems of making rates, rating plans and rules governing their application, are urgent and must necessarily come first. This might be termed the legislative function.
1925
Among the peculiar questions that arise as an incident to the rating of workmen's compensation risks, I can think of nothing quite so important from the viewpoint of the individual policy holder as the question whether experience incurred under workmen's compensation policies shall attach or follow the person, i. e. the employer, or the risk.
1925
In presenting his paper, "Automobile Rate Making" at the last meeting of the Society, Mr. Stellwagen has rendered an important service to students of automobile insurance. He has given a very complete, clear and detailed exposition of the method of rate making developed by the Automobile Department of the National Bureau and employed in the rate revisions of 1923 and 1924.
1925
The scientific development of Automobile rates was delayed for a long time by the lack of necessary statistics. For many years the establishment of rates was largely a matter of underwriting judgment supplemented by a meager volume of statistical fact.
1924
The development of the rating system for workmen's compensation insurance in the United States has been mainly a product of the last ten or twelve years. The problem has involved most of the contingencies with which life insurance deals, even such as remarriage and degree of dependency, the most important elements of fire insurance, such as a basic manual and a schedule and then some features peculiar to itself, such as experience rating.
1924
The 1023-24 general revision of compensation insurance rates is only now being completed. In its inception, this revision was based upon a theory of ratemaking which Mr. A. H. Mowbray developed in a paper presented to this Society on May 25, 1923.
1924
When students are preparing for the examinations of this Society and consult the examination requirements, they find that a knowledge of insurance law, including the more important statutes of the United States and Canada relative to casualty insurance is required under the syllabus for Part II of the Associateship examination.
1924
The complexity of statistical problems which today confront actuaries and statisticians of casualty companies would seem to indicate the desirability of a review of these problems as a whole in order to obtain a better perspective as to the value of statistical work and the methods used in arriving at results.
1924
Mr. Van Tuyl's paper is a fairly detailed and a very clear exposition of the information called for by the casualty experience exhibit blank. As no theories are advanced by Mr. Van Tuyl, it is hardly possible to criticize this paper.
1924
With the thought that our members would like to have a convenient reference to the principal organizations dealing with actuarial science, statistical science, mathematical science and the sciences related thereto, the Secretary-Treasurer of the Casualty Actuarial Society requested the Secretary or a member of these organizations to furnish him with an historical review of their association.
