Fire Insurance Rates: Problems of Coöperation, Classification, Regulation

Robert Riegel

The Quarterly Journal of Economics, 1916, vol. 30, issue 4, 704-737

Abstract: Introductory: Omnipresence of the rate question, 704. — Two phases in fire insurance, 705. — I. Mediums for fixing fire rates, 705. — Cooperative rate-making, 707. — Underwriters' associations, 707. — Abuses of the coöperative system, 709. — Lack of classified statistics, 710. — Discrimination, 711. — Control over brokers, 714. — The regulation of associated activities, 715. — The common law, 715. — Antitrust statutes, 715. — Anti-compact laws, 716. — State-rating acts, 717. — Regulatory statutes, 718. — Criticisms of state-rating acts, 720. Advantages of the regulatory statutes, 720. — II. Methods of fire insurance rating, 721. — Development of classification, 721. — The judgment system, 723. — The schedule system, 723. — The Universal Mercantile Schedule, 724. — The Analytic System, 725. — Defects of the schedule system, 727. — Rehabilitation of the classification theory, 727. — The Experience Grading and Rating Schedule, 728. — Objections to the classification theory, 732. — Advantages of the latest schedule, 736. — III. Conclusion: The proper medium for fire insurance rating, 736. — Adoption of a satisfactory and equitable rate method, 737.

Date: 1916
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