The 965 Table M

The purpose of this paper is to set forth in an orderly fashion, a summary of certain aspects of the work done in compiling the 1965 version of Table M. It will be assumed that the reader has a basic knowledge of Table M and its use in obtaining insurance charges for retrospective rating plans. This report will be presented in a fashion that will imply that we went straight as an arrow from the problem to the solution. The reason for doing this is to present a clear and easy to follow line of reasoning, I'm sure it is realized that the work could not and did not proceed in exactly this manner. Many false leads were pursued, and oftentimes decisions would be made near the end of the work which affected things done near the beginning. The earlier work would then be redone. Part of the reason for creating this written record is that the future researcher will have an easier time following the development. Through footnotes and appendices, I hope to indicate some of the areas where we investigated ideas and rejected them, where expediency prompted us to accept the results produced and where we could hope for improvement in the future.