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The Origins of the National Association of Life Underwriters*
Published online by Cambridge University Press: 24 July 2012
Abstract
Behind the formation, in 1890, of the National Association of Life Underwriters lay two decades of localized, often abortive attempts at self-regulation through association. Malpractice, while not universal, was sufficiently widespread to hinder the growth of a broad market for life insurance. Early regulatory efforts failed when the organizers of those efforts were unable to solve the administrative problems of dealing with apathy on the one hand and defiance on the other. But these failures paved the way for renewed efforts. When, at last, a number of widely scattered associations had succeeded in accomplishing reforms, thereby solidifying member support, the stage was set for organization on a national scale.
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- Copyright © The President and Fellows of Harvard College 1955
References
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32 Baltimore Underwriter, VI, no. 2 (Aug., 1870), 48. Its exact date of formation is not known.
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37 Baltimore Underwriter, VIII, no. 10 (Oct., 1872), 580.
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44 Ibid., XVI, no. 1 (6 July 1876), 5.
45 Ibid., p. 6.
46 Ibid., XVII, no. 25 (2 June 1877), 405. The Cleveland Association apparently had already passed out of existence in 1875. The last reference to it that could be found was in the October, 1875, issue of the Insurance Monitor (XXIII, no. 10, 666).
47 Ibid., no. 26 (28 June 1877), 416–7.
48 Ibid., p. 415.
49 Ibid., LIII, no. 6 (20 Mar. 1895), 148.
50 Complete text of the constitution and bylaws appeared in the Avalanche, II, no. 9 (30 Sept. 1872), 164.
51 Coast Review, V, no. 2 (Nov., 1873), 59.
52 Avalanche, III, no. 3 (31 March 1873), 47. The account of the organizing of this body was reprinted from the St. Joseph Gazette of 8 March 1873.
53 This copy is in the Library of the Insurance Society of New York.
54 Proceedings of this meeting appeared in the Baltimore Underwriter, XII, no. 9 (27 Aug. 1874), 166–8.
55 These statements are based upon information contained in a paper delivered by Chauncey M. Ransom and entitled “Origins and Growth, Present and Future of the Life Underwriters' Association,” read on 15 September 1897, at the eighth annual convention of the National Association of Life Underwriters in Milwaukee.
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61 Standard, XXVIII, no. 2 (11 Jan. 1891), 55. The facts as to the founding of the Boston Association are taken from a speech delivered by Ben S. Calef in January, 1891, before the Boston Life Underwriters' Association at its monthly meeting.
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