Publisher's Synopsis
Excerpt from The Estimation of Exposures, or External Hazards, in Fire Insurance: With Schedules and Formulas for Rating Risks, and Stenographic Formulas for Denoting Risks and Rates
1. Either in selecting risks or in making rates of premium, the various combinations of hazards which occur in the business of insurance must be computed in some way. The estimation of external hazards has always been one of the greatest difficul ties in intelligent fire underwriting. We have no statistics on Which to base any calculations of ex posares. Whatever statistics underwriters may have compiled from their own experience, they hold them at a premium, and make no exposure of them, unless it is in their published rates, Which include only simple hazards and a few of the simplest combina.
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