Wright, Edwin W. Bryant and Sheppard Homans, who were delegated to institute a searching investigation into the financial condition of the Association, especially as affected by the issue of these policies and the previous method employed in their valuation. The Association courted a critical investigation, and cheerfully furnished every facility for its accomplishment. The work has been completed, and the impartial report of the Actuaries has been accepted, and its suggestions promptly adopted by the Association. With this adjustment, and the further issue of such policies abandoned, and with the fact that the number outstanding is small and constantly diminishing, and that the additional reserve called for by the new rule will not impair the credit or integrity of the Association, but will speedily be absorbed in its increasing surplus or income, there seemed no occasion for any arbitrary or summary change in departmental ruling. MORTUARY STATISTICS. The annexed tables show a termination by death of nearly seven thousand policies during the past year, an increase of nearly five hundred death claims over 1870. Whether the increase of mortality has arisen from the accumulation of predisposing causes, or from want of care in the selection of risks, is a question probably best understood by the Companies themselves. In the whole number of claims accruing within the year, thirty-four Companies show a ratio under 1.00; seven of them ranging from .48 to .60 only; while seventeen exhibit a ratio exceeding 1.00, six of these ranging from 1.20 to 1.50 and upwards, the average of the whole being .92. The ratio of deaths on new policies issued in 1871, is also given in the same connection, from which it will be perceived that an unusual number of Companies incurred no losses on new policies; while some others failed to make returns. |