On the importance and practicability of a standard classification of impaired lives / by S.W. Carruthers.

  • Carruthers, Samuel Williams, 1866-
Date:
[1905]
Catalogue details

Licence: In copyright

Credit: On the importance and practicability of a standard classification of impaired lives / by S.W. Carruthers. Source: Wellcome Collection.

Provider: This material has been provided by The Royal College of Surgeons of England. The original may be consulted at The Royal College of Surgeons of England.

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    those lives and the average lives which were accepted at ordinary rates was not altogether one of degree ; it was almost a difference of kind; because if reliable mortality tables were to be obtained founded upon statistical information of that sort, followed out into elaborate detail, it would be found that the circumstances of almost each individual case differed widely. Variations in social environment, the medical assistance it was possible to procure, and similar features, made such wide distinctive differences as to upset the average, and rendered it very unlikely that reliable figures could be obtained enabling them to fix, as he supposed was the intention, scientific premiums for impaired lives on such a classification as the author’s. Actuaries had to admit that the system at present in force was a very rough and ready one, but it was difficult to see what, for many years to come, was to take its place. After all, important as the subject was, it was a consolation to remember that the backbone of life assurance companies’ business did not consist of impaired lives, but of lives which were considered to be in average health; and while the Institute welcomed any attempt to place more effectively at the disposal of its members the resources of science, enabling them exactly to estimate and precisely to deal with this smaller class, he was afraid, for the reasons he had ventured to suggest, that such a desirable consummation could only come at a distant date. Of course that need not in the least interfere with their gratitude to the author for bringing the problem before them, and for his heroic attempt at its solution; nor with their appreciation of the skill and ingenuity of that attempt. The President, in proposing a hearty vote of thanks to the author for his paper, said he thought there was undoubtedly good work yet to be done in the direction indicated; but the classification to be attempted was very largely one which their medical friends must themselves determine. He would only ask the author—who he hoped would, with his colleagues, pursue the subject still further—to recollect that what actuaries and physicians should jointly aim at was something of which practical use could be made. For that purpose he thought any classification which was to be of everyday use must not he too elaborate. He did not wish, however, to discourage the author from the large amount of work which he appeared to be willing to undertake ; and when he had elaborated something further which he considered a practical scheme, he thought the Life Offices would not withhold from him their collaboration in the direction of furnishing material. The vote of thanks to Dr. Carruthers was then put and carried with acclamation. Dr. Carruthers, in reply, thanked the members most cordiallv for the very kind reception they had given to his somewhat crude paper. If they felt any gratitude to him for bringing the subject forward, he thought that this should be extended also to his valued colleague, Mr. Allin, on whose suggestion he brought the paper before the Institute, aud who had given him valued advice at almost every step of the work. He was afraid, however, he had not made one point clear. The criticisms that B