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1966
Burglary insurance is designed to reimburse an insured party for any losses which he may sustain arising from the burglary, robbery, or theft of his property and possessions and any damage thereto. The need for this type of insurance has been recognized for many centuries. The earliest recorded example may be found in France in the year 1161, when a fund was set up which received a special license by edict of Pope Alexander III.
1966
I am exercising the option to comment on the review of my paper by Paul Otteson because it gives me another opportunity to interest the members of the Society in a subject which has long been neglected.
1966
Mr. Foster’s paper stresses the importance and necessity of a system of planning which will permit comparison and subsequent analysis of variations between actual results and planned results.
1966
William F. Dowling’s paper "Budgeting by Casualty Insurance Companies" was presented to this Society in May of 1942. He noted that some twenty years before budgeting was primarily used to control governmental appropriations and expenditures. He also reported on a survey which showed that about one-third of the companies were budgeting expenses in relation to a forecast of income.
1965
This is a perfectly delightful paper and could not have come at a more propitious time in the development of our Society's research efforts. The paper is not without flaws, but I hope that by pointing out such items I will in no way dimish my appearance of enthusiasm for Professor Mayerson's effort.
1965
For several years now, writers and reviewers of papers presented to this Society have stressed the desirability, and indeed, the inevitability of utilizing theory, methods, techniques and procedures derived from what may be broadly referred to as the field of Finite Mathematics. During these same years the Society has also seen an increasing number of papers dealing with the ratemaking problems of the fire actuary. Recalling Mr.
1965
A compound Poisson process, in this context abbreviated to cPp, is defined by a probability distribution of the number m of events in the interval (o, "r) of the original scale of the process parameter, assumed to be one-dimensional, in the following form. (forum) (1) where (variable) du shall be inserted for t, X.
1965
The actuarial core of the fire protection classification rate relativity problem is the actuarial core of any fire rating problem: The fire rate structure must be (or, at least, for generations, by custom and usage, has been) refined far beyond the refinement of the fire statistical plan.
1965
Page I of the annual statement contains a sworn statement signed by the company president, secretary and treasurer, respectively; part of this statement reads as follows: "....
1965
This paper discusses possible approaches to the problem of establishing reserves for retrospective returns for the annual statement and for statements of company operating results. The first of the formulas explained has produced satisfactory results when applied to the data of one company for policy years from 1956 to 1962. The reserves established by the methods described in this paper do not lend themselves readily to run-off tests.
1965
The object of the Netherlands Foundation for Sanatorium Insurance ("N.S.V.') is to insure the risk of treatment in a sanatorium because of tuberculosis. For insured persons admitted to a sanatorium because of tuberculosis, the N.S.V. pays the insured sum for every day of treatment. At the moment nearly 80% of the population of the Netherlands is insured directly or indirectly in the N.S.V.
1965
The proceedings of the Society already contain a paper on this subject which was presented by this author at the November meeting in 1956 (PCAS XLIII).
1964
The theory of extreme values is a special branch of mathematmalstahstms and was mainly treated by E J Gumbel [4] *) This theory has only been apphed m a few cases to problems m the Insurance business The first practmal apphcatlon to insurance known to the author of the present paper is due to A Th6paut who has Invented a new reinsurance system called ECOMOR [5] According to this system the reinsurer covers the excess a s k for the m largest cl
1964
This paper was generated in the belief that publication of statistical data setting forth actual distributions of incurred loss amounts by size of loss would be of general interest, and that such data should be made freely available for whatever immediate purpose or use might be made of it by others.
1964
The purpose of this paper is to explore the possibility of developing a method of testing private passenger liability territorial rate levels by substituting the statewide distribution of classification data for the actual distribution by rating territory. Such a method should be useful to small independent companies and could be used by company actuaries as a basis for estimating the adequacy of their rate levels.
1964
A study suggested by the theme of this paper should be of substantial interest beyond the circle of a few experts in the relatively narrow field of ratemaking.
1964
In the words of the author, the purpose of this paper is to explore the possibility of developing a method of testing private passenger liability territorial rate levels by substituting the statewide distribution by rating territory. Also, in his introductory remarks, Mr. Gill gives emphasis to the potential value of such a method to small independent companies and company actuarial as the basis for estimating the adequacy of their rate levels.
1964
As a representative of a ratemaking organization, I found Mr. Gill's paper of particular interest. The essential idea of the paper concerns the calculation of premium at present rates by utilizing a statewide distribution of classification exposures instead of the actual distribution within each rating territory. The standard method of computing premium at present rates, as described in Mr.
1964
Is group dental coverage, by insurance or prepayment methods, feasible? Does it have a future? What are the special characteristics and problems that can be adduced at present about this coverage?
This paper is an effort to discuss such questions in a rather general and preliminary way, in the expectation that more precise and specific information and data now accumulating will soon be available for publication.
1964
Mr. Durkin has made a brave effort in tackling what has been, up to now, an untouched field in the annals of the Casualty Actuarial Society. In my opinion, he has taken more than a "glance." It is more like a "long, hard look" at the subject, including a substantial amount of research.
1964
Mr. Durkin's paper on group dental coverage is very timely. The rapid development of hospital-surgical-medical coverage in this country in the last twenty years may well have set a pattern which is about to be followed in the field of dental coverage.
1964
Let me say at the beginning that this is not a history of the Casualty Actuarial Society. I have neither the time nor the talent to do the research and analysis necessary for such an undertaking, and more importantly, there are others eminently more qualified if a definitive history is to be written.
1964
In this paper we shall discuss some of the decision problems which occur in insurance companies. We shall try to indicate how these problems may be solved by combining the familiar ideas of actuarial mathematics with those of modern theories of scientific management.
