Hostname: page-component-7479d7b7d-jwnkl Total loading time: 0 Render date: 2024-07-09T23:25:23.805Z Has data issue: false hasContentIssue false
  • English
  • Français

Actuarial Aspects of Long-Term Sickness Insurance

Published online by Cambridge University Press:  18 August 2016

J. Hamilton-Jones
Get access Rights & Permissions [Opens in a new window]

Extract

The development of sickness insurance of the type dealt with in this paper has been a long process, commencing in a tentative fashion, probably a century ago, in Europe. In 1900, E. Hamza, at that time actuary of a Russian insurance company, contributed to the Third International Congress a paper of interesting historical significance which is clearly based on long experience in Germany. In his paper he developed an approach fundamentally different from the traditional British approach. British methods—which can be described with complete adequacy at this stage as a continuation of Friendly Society actuarial technique—have stood the test of time for at least 150 years and it is the purpose of this paper to analyse the two lines of development; to pose the question of their efficacy in the future; and to outline alternative methods depending on modern mathematical techniques.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 98 , Issue 1 , June 1972 , pp. 17 - 67
Copyright
Copyright © Institute and Faculty of Actuaries 1972

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

(1) Hamza, E. Note sur la théorie mathématique de l'assurance contre le risque d'invalidité d'origine morbide, senile ou accidentelle. Troisième Congrès International d'Actuaires, Paris, 1900.Google Scholar
(2) Bond, D. J. Permanent sickness insurance, J.S.S. 1963, 17, 195.Google Scholar
(3) Rhodes, E. E. Is disability insurance practicable? J.I.A. 1932, 63, 115.Google Scholar
(4) Robertson, W. A. Continuous disability insurance. T.F.A. 1931-1934, 14, 21.Google Scholar
(5) Watson, A. W. An account of an investigation of the sickness and mortality experience of the I.O.O.F. Manchester Unity 1893-97. Manchester 1903.Google Scholar
(6) Neison, F. G. P. Assurance against invalidity. Troisième Congrès International d'Actuaires, Paris, 1900.Google Scholar
(7) National Suprannuation and Social Insurance Bill 1969. Report by the Government Actuary on the Financial Provisions of the Bill (Cmnd 4223).Google Scholar
(8) Karup, J. Die neue Theorie der Invaliditäts- und Aktivitätsberechnung (1876). Reproduced in Blatter der Deutsche Gesellschaft für Versicherungsmathematik, 1967, 8.Google Scholar
(9) Bailey, W. G. and Haycocks, H. W. Some theoretical aspects of multiple decrement tables. Edinburgh, 1946.Google Scholar
(10) Hunter, A. and Phillips, A. R. Disability benefits in life insurance policies. New York, 1932.Google Scholar
(11) Davidson, A. R. The History of the Faculty of Actuaries in Scotland, 1856/1956. Edinburgh, 1956.Google Scholar
(12) Medin, K. Some theoretical aspects of permanent sickness insurance. J.S.S., 1952, 11, 76.Google Scholar
(13) Cueto, M. R. Monetary values for ordinary disability benefits. T.S.A. 1954, 6.Google Scholar
(14) Minor, E. H. Comments on U.S. sickness insurance and bases of premiums therefor. Transactions of the Eighteenth International Congress of Actuaries, Munich, 1968, 2.Google Scholar
(15) Dillner, C-G. New Bases for non-cancellable sickness insurance in Sweden. Skandinavisk Aktuarietidskrifr. 1969.CrossRefGoogle Scholar
(16) Sand, R. Disability pension insurance—a new method for calculation of premiums. Transactions of the Eighteenth International Congress of Actuaries, Munich, 1968, 1.Google Scholar
(17) Lundberg, O. On random processes and their application to sickness and accident statistics. Uppsala 1964.Google Scholar
(18) Hoem, Jan M. Some notes on the qualifying period in disability insurance. 1, Actuarial values. Mitteilungen der Vereinigung Schweizerischer Versicherungsmathematiker, 1969.Google Scholar
(19) Pollard, A. H. and Pollard, J. H. A stochastic approach to actuarial functions, J.I.A. 1969, 95, 79.Google Scholar
(20) Beard, R. E. The standard deviation of the distribution of sickness. J.S.S. 1947, 7, 23.Google Scholar
(21) Technische Grundlagen der Eidgeössichen Versicherungskasse EVK 1970. Bern, 1970.Google Scholar