1922 Revision of the Industrial Compensation Rating Schedule

A schedule rating plan as an instrument of rating a risk for workmen's compensation insurance should establish the relativity of hazard between individual risks of the same manual classification to the extent that the physical condition of the risk influences its experience. How far the Industrial Compensation Rating Schedule does accomplish this purpose is a matter of conjecture. It seems fair to state, however, that even if the present schedule does produce in many instances the correct rate for the individual plant, this is probably due largely to chance, for, while the present schedule has many good points, the fact remains that none of them have been based upon experience.