Industrial Assurance Today

Synopsis

The paper attempts to give a factual description of industrial assurance as it is today. Among the matters discussed are :–

• Definition, origin and development of the business

• Legislation affecting it

• Statistics

• Expenses

• Changes in the type of business transacted in recent years

• The organization of a large industrial assurance office

• New business, policy conditions, and the calculation of benefits

• Methods, bases and machinery used in the valuation of policy contracts

• Profit sharing and its evolution

• Free policies and cash surrender values

• Lapse rates

• Protection from forfeiture during periods of emergency

• Criticisms

• Positive achievements of industrial assurance and its future