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On the Assurance Risks incident to Professional Military and Naval Lives; and the Rates of Extra Premiums which should be charged for such Risks*

Published online by Cambridge University Press:  18 August 2016

A. H. Smee  and
Thomas G. Ackland
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Extract

In assessing the risks to be provided against in the case of professional military and naval lives, consideration has to be given to the following distinct elements:

      (1) The risk of death at home stations, or the normal mortality.
      (2) The risk of death at foreign stations in time of peace, or the climate risk.
      (3) The risk of death in active military service in the constantly recurring “small wars.”
      (4) The risk of death in active military operations in “national wars.”
      (5) The liability, in time of peace, to foreign service.
      (6) The liability to active service in the field in “small wars.”
      (7) The liability to active service in the field in “national wars.”

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 34 , Issue 4 , January 1899 , pp. 358 - 385
Copyright
Copyright © Institute and Faculty of Actuaries 1899

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References

page 362 note * See appendix to these extracts, being that portion of the Report of May 1888, here referred to.—Ed. J.I.A.

page 365 note * The assumptions numbered (4) and (7) above are, as will be seen, purely matters of judgment; and it is probable that individual conclusions, based upon the available data, would show materially different results upon these points. We consider, however, that in combining the different assumptions thus made, in order to arrive at the total estimated probability of death in active service in a national war, the final result would probably not differ materially from that arrived at in this Report.