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1956
Questions have been raised recently concerning the effectiveness and propriety of the Rate Level Adjustment Factor currently in use in New York and most other states for Workmen's Compensation ratemaking. I have undertaken to evaluate the current procedure on the basis of the information available to me--New York State data from two distinct sources.
1956
In an attempt to get at the underlying facts concerning the difference in Workmen's Compensation cost between New York State and Wisconsin, a study has been undertaken with respect to the specific law provisions and also with respect to the actual experience.
1956
Automobile Assigned Risk Plans have become one of the most important facilities of the Automobile Liability Insurance Industry. It is undoubtedly true that no facet of the business has consistently been the object of more interest and attention. The plans perform the extremely necessary function of bridging the gap between the voluntary insurance facilities and the needs of the insuring public.
1956
Mr. Harwayne has made a further contribution to the puzzling question of analyzing state differences in compensation costs and
rates. Using his paper in conjunction with Mr. Johnson's 1953 paper and Mr. Goddard's discussion, we now have substantial printed word to give us confidence as we employ a relatively modern method of making these comparisons.
1956
As the actuary of a company whose President, Mr. John A. Diemand, has been a leader in the movement to introduce the Multiple-Line principle into our insurance practices, it gives me very great pleasure to be asked to submit a written discussion of Mr. Michelbacher's excellent paper.
1956
The first observation which occurs to me on the subject of Taxes is what is said of the weather--everyone talks about it but nobody does anything about it. Mr. Andrews has done something about it. This paper deserves to be read and reread even though you do not happen to be the one who must continuously face the preparation of the innumerable and heterogeneous tax reports.
1956
At the time the National Board of Fire Underwriters began collecting classified statistics, some 14 of the 48 States required reports directly from individual companies. There was no uniformity among these reports as some were required monthly, some annually and there was no standard report form. Reports on losses were always required and most States were interested in losses paid. But one called for losses incurred.
1956
Mr. Andrews has done a distinct service to the Society in presenting this paper on a subject which has hereto for had very little consideration in our Proceedings. The paper should be of considerable value especially to students of the Society preparing for the examinations.
1956
It goes without saying that any material on noncancellable health and accident insurance emanating from Mr. Fairbanks' Company is well worth reading. His Company and a few others have been shining examples for many years of the fact that the word "noncancellable" does not necessarily mean financial disaster.
1956
Mr. Fairbanks' excellent paper has helped to fill a definite need for more information on the subject of ratemaking for Health and Accident coverage.
1956
"The subject of reserves for incurred but not reported claims has received very scant consideration in our proceedings, nor is there available to the writer's knowledge any written aspects of the subject." The above quotation of the opening paragraph of a paper by Mr. Thomas F.
1956
As the title indicates, this paper outlines the historical situations that stimulated thoughts of an automobile assigned risk plan.
1956
This paper presents a description of basic procedures currently used in rate making for Automobile Liability Insurance. Like Mr. Marshall's paper on Workmen's Compensation Insurance Rate Making, this paper is directed at the student of casualty insurance. The presentation of the subject is purely descriptive and does not attempt any evaluation of the rate making procedures, nor does it contain any original research.
1955
Workmen's Compensation Insurance Ratemaking is, in its broad aspects, similar to ratemaking in the other fields of casualty insurance.
1955
Mr. Hurley in his paper "A Credibility Framework for Gauging Fire Classification Experience" which appeared in the 1954 Proceedings has made an important step forward on a very difficult problem. As he pointed out "the literature on this subject is scanty." This is somewhat an understatement. I would say the literature relative to credibility of fire insurance experience is non-existent.
1955
Rarely do we find an article dealing with a mathematical subject that is written in such delightful English as Mr. Hurley's paper on fire insurance credibilities, but this is only an incidental benefit, an extra dividend, if you please. The truly significant aspect of the paper is that for the first time an attempt has been made to deal with fire insurance credibilities on a rational basis supported by mathematical reasoning.
1955
The reviews by Mr. Graves and Mr. McConnell treat of two different but equally significant criticisms of the paper on Fire Credibilities. Mr. Graves has noted that the paper is oriented more from the point of view of an underwriting evaluation of fire experience rather than from the attitude which the Industry must take in discharging its responsibility for official standards for credibility.
1955
This is the story of a revolutionary development. It has a beginning but, at the moment, it has no end. It will profoundly alter the business of fire, marine, casualty and surety insurance in many ways some of which we can only dimly perceive.
1955
Unemployment insurance is a program which provides, in accordance with a definite formula, indemnity against wage loss resulting from involuntary unemployment. The best known examples of such programs up to now have been the 51 State unemployment insurance programs and the Federal Railroad Unemployment Insurance program.
1955
Although the public has been kept very well informed on the subject of the many services performed by insurance companies, there is one about which, although it is of major importance, surprisingly little has been published.
1955
My paper, by request, was designed to be no more than a factual description of the current ratemaking program of the National Council on Compensation Insurance, with the thought that such paper would be of interest to the membership generally, and of value, in particular, to students studying for Part IVb of the Society examinations dealing with "General Principles of Ratemaking."
Keywords: LOB-Workers Comp
1955
This article gives in great detail the actual procedures followed by the National Council on Compensation Insurance in the making of a set of rates for workmen's compensation insurance. For illustrative purposes, the most recent filing for Connecticut rates has been used, and throughout, the data applicable to this state and this revision are consistently followed.
1955
Mr. Bevans' sympathetic discussion of my paper raises several questions which require some clarification as they touch upon a fundamental difference between the Blue Cross-Blue Shield approach and that of other carriers of this coverage.
