The Law of Accident and Employer's Liability Insurance (Classic Reprint)
| Author | : | |
| Rating | : | 4.30 (907 Votes) |
| Asin | : | B008RM719G |
| Format Type | : | paperback |
| Number of Pages | : | 578 Pages |
| Publish Date | : | 2016-02-12 |
| Language | : | English |
DESCRIPTION:
In the seventeenth century the idea of insuring individuals against accidents seems to have been first contemplated in France. They were not adapted to the newer country, with its different customs and habits of life, its varied occupations and risks, and the companies which had embarked in the business met with disaster and failure. Shortly the pioneers in the industry undertook the scientific construction of a system of accident insurance, evolving new tables of rates, new classifications of risks, and new methods of business, based upon conditions in the United States. It soon became manifest that only a small percentage, not above ten per cent., of accidents resulted from traveling. In the United States accident insurance was inaugurated with the sale of so-called accident tickets to travelers on railroads covering only risks of travel, and in most instances good only for periods of twenty-four hours or the duration of specific trips. In a short time it was demonstrated that by a statistical and mathematical calculation a table of risks could be prepared on the same principle employed in the construction of mortality tables by life insurance companies, upon which could be based a reliable and equitable system of accident insurance. The first American company was not organized until a