American Manufacturers Mutual Insurance Company v. United States. 453 F.2d 1380

1972 ◽  
Vol 66 (4) ◽  
pp. 867-867
Author(s):  
Alona E. Evans
Keyword(s):  
United States ◽  
Insurance Company ◽  
Mutual Insurance

Freedom to Define Membership in a Mutual Insurance Company

2021 ◽  
Vol 3 (108) ◽  
pp. 26-41
Author(s):  
Beata Mrozowska - Bartkiewicz
Keyword(s):  
Limited Liability ◽  
Fundamental Principle ◽  
Legal Framework ◽  
Business Activity ◽  
Insurance Company ◽  
Wide Range ◽  
Systemic Model ◽  
Mutual Insurance ◽  
Legal Forms

A mutual insurance society is one of the basic forms of conducting insurance activity. It is characterized by a very wide range of options which its founders and subsequently entitled members have in order to choose the organizational and systemic model of operation, to change it in the course of business, to define the concept of membership, to create various categories of members and provide them with different rights and duties, to determine the powers of statutory bodies, and, above all, to apply the method of mutuality. The Insurance and Reinsurance Activity Act regulates the basic legal framework of mutual companies, while referring quite a number of issues to the Polish Commercial Partnerships and Companies Code. This does not alter the fundamental principle on which the company's activity is based, namely that its articles of association play an extremely important role, which is much greater than in the case of public limited liability companies, and that members of a mutual insurance society enjoy considerable freedom to conduct business and categorize its members, which is unparalleled for other legal forms of business activity.

The Pioneer in American Life Insurance Marketing

1938 ◽  
Vol 12 (5) ◽  
pp. 65-75
Author(s):  
J. Owen Stalson
Keyword(s):  
United States ◽  
Eighteenth Century ◽  
North America ◽  
Life Insurance ◽  
General Public ◽  
Colonial America ◽  
The United States ◽  
Insurance Companies ◽  
Insurance Company ◽  
Fire Insurance

Colonial America gave little thought to life insurance selling. The colonists secured protection against marine risks from private underwriters, first in London, eventually at home. It has been asserted that Philadelphia had no fire insurance until 1752; Boston none before 1795. The first corporations formed in this country for insuring lives were those of the Presbyterian Ministers Fund (1759) and a similar company organized for the benefit of Episcopal ministers (1769). Neither of these corporations offered insurance to the general public. In the last decade of the eighteenth century many insurance companies were formed in the United States. At least five were chartered to underwrite life risks, but only one, The Insurance Company of North America, appears to have accepted any. There is no basis for saying that any of these early companies tried to sell life insurance.

Topography and Culture: The Case of the Changing Cage

1957 ◽  
Vol 16 (1) ◽  
pp. 16-20 ◽  
Author(s):  
Cara Richards ◽  
Henry Dobyns
Keyword(s):  
United States ◽  
Cultural Change ◽  
Social Systems ◽  
The United States ◽  
The Other ◽  
Insurance Company ◽  
Work Unit ◽  
Cultural Changes ◽  
The Relationship

This paper deals with a problem long debated by anthropologists—the relationship between environment and culture. We analyze effects of topography on cultural change in situations of contact between two social systems, one more powerful than the other and inclined to enforce its behaviors on the weaker. We do this by examining cultural changes in one work-unit within a large insurance company in the United States.

scholarly journals “Estimating incurred claims”

1969 ◽  
Vol 5 (2) ◽  
pp. 274-279
Author(s):  
V. Benedikt ◽  
Herbert L. Feay
Keyword(s):  
United States ◽  
The United States ◽  
Liability Insurance ◽  
Insurance Company ◽  
Property Damage ◽  
Bodily Injury

Mr. Benedikt uses “chain relatives” based on the incurred claim totals included in Part 5 of Schedule “P” of the annual statement required for fire and casualty companies in the United States. Each total is for the losses as developed to end of calendar year (j) for claims incurred because of accidents in calendar year (i). Each total is the sum of the actual payments made before the end of year (j) plus the reserve for estimated payments to be made after the end of year (j) for claims incurred in year (i). The “chain relatives” are ratios. The “chain relative” ai,j is the ratio of developed losses to end of (j + 1) to the developed losses at the end of year (j).Each total of Part 5 of Schedule “P” equals the sum of the total payments to date plus the total reserves for future payments for the corresponding classification of claims. Separate totals for these amounts are given in Part 1 of Schedule “P”. The totals of Part 5 are not secured directly from Part 1 because Part 1 gives totals by policy year of issue only and Part 5 separates the totals by policy of issue by calendar year in which claims are incurred. The two parts are prepared from the same basic claim information and agree in total.The accumulated total paid losses for most casualty lines increase with passage of time. This accumulated total for paid losses can be reduced only if there are recoveries for losses previously paid, such as can occur for auto collision. For auto collision, the insurance company for this insurance can pay the insured for the damage to his car and then later recover from the insurance company that provided the liability insurance for another car involved in the same accident. Such substantial recoveries normally do not occur for auto liability insurance for bodily injury and property damage.

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