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Accident Insurance. The ordinary accident insurance policy grants a fixed compensation to the insured for a limited time in case of disabling accident, and also a definite amount to be paid to a designated person if death results from accident. Such policies are in general strictly limited by their terms to accidents which totally disable or kill the insured. Some companies issue modified forms providing for injury and death, with an additional clause as to partial disabilities of a permanent nature, such as loss of a limb, an eye, a hand, or foot. In order to recover, the injury must arise from "external, violent, and accidental means," and must be incurred while the insured is not unnecessarily exposing himself to "obvious danger," and while he is not engaged in an occupation more hazardous than that in which he has elected to be classified and insured, or if more hazardously occupied at the time of the injury, then recovery can be had only to the extent to which premium paid would have purchased insurance in the more hazardous class. Within these limits there has been found a great deal of ground for differences of opinion, and many of the points which have been settled have only been disposed of after harrassing litigation. [See Legal Decisions Affecting Insurance. Accident Insurance.]

Accident Underwriters, International Association of. [See International Association.]

Achen-Munich Fire Insurance Company of Aix-la-Chapelle, Prussia, entered California in May, 1893, to do business, Voss, Conrad & Co. of San Francisco being appointed managers for the Pacific Coast States. This company, one of the larger of the German fire insurance companies, was established in 1826, and in 1893 had funds, including subscribed capital, of about $5,000,000.

Actuarial Society of America was organized April 25, 1889, [For an account of the origin, charter, and early proceedings of this organization, see the Cyclopedia of Insurance for 1890.] The first president was Sheppard Homans. The second president was David Parks Fackler, elected in 1891; and the third president, Howell W. St. John, elected in 1893. [See Cyclopedia of Insurance for 1891, and 1892-3.]

The third annual meeting of the Society was held in the city of New York, at the rooms of the New York Board of Fire Underwriters, on Friday, April 28, 1893, preceded on Thursday evening

by a dinner at the Mills building, Broad street, at which President Fackler presided, and sixty members and their guests were seated.

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At the annual meeting several papers were read, the titles and their authors being as follows: Simple Endowment and Insurances Involving a Return of Premiums with Simple or with Compound Interest," by D. P. Fackler; “A comparison of Australian and American Mortality Continued," by Richard Teece of the Australian Mutual Provident Society; "Retrospective Forms of Valuation in Practice," by Max H. Peiler; "Error in Age," by J. G. Richter; "Tables from Dr. Farr's Healthy English Males,"" by D. I. McG. McKenzie.

The following new members were elected: Léon Marie, actuaire de la Compagnie Le Phénix, Paris; J. Martin Dupray, actuaire de la Compagnie d'Assurances générales, Paris; E. Cosmao-Dumanoir, actuaire de la Compagnie La Nationale, Paris; Ernst W. Scott, A. I. A., managing director of Algemeene Maatschappij van Levensverzekering en Lijfrente, Amsterdam; Gardner L Plumley, assistant actuary of the Home Life Insurance Company; Alex. G. Ramsay, F. I. A., president of the Canada Life Assurance Company, Hamilton, Ontario; William B. Paterson, F. F. A., A. I. A, assistant actuary of the Norwich Union Life Insurance Company, of England; George Leslie, assistant actuary of the New Zealand Government Life Insurance Department.

Officers were elected for the ensuing year, as follows: Howell W. St.John of the Etna Life, president; Emory McClintock of the Mutual Life, first vice-president; Bloomfield J. Miller of the Mutual Benefit Life, second vice-president; Israel C. Pierson of the Washington Life, secretary; Oscar B. Ireland of the Massachusetts Mutual, treasurer. Two new members of the council were elected, T. B. Macaulay of the Sun Life of Montreal, and D. H. Wells of the Connecticut Mutual of Hartford.

On the evening of June 14, 1893, the members of the Society entertained at dinner, at the Lawyers Club, New York, Mr. Richard Teece, F. I. A., F. F. A, manager and actuary of the Australian Mutual Provident Society of Sydney, and F. W. Frankland, F. I. A., formerly commissioner of the New Zealand government life insurance department and recently appointed an associate actuary of the New York Life insurance company. Among those present were: Howell W. St. John, president of the Society, and at his right and left sat the two guests. Among others present were: Sheppard Homans, Geo. W. Phillips, D. P. Fackler, Bloomfield J. Miller, Israel C. Pierson, John B. Lunger, John M. Holcombe, Charles N. Jones, Hubert Cillis, J. G. Van Cise, Sydney N. Ogden, Horace C. Richardson, Robert G. Hann, Max H. Peiler, and John Tatlock, Jr. Many regrets were received from members, some of whom were absent from the city visiting the Columbian Fair or on vacation, and many were residing at too great a distance to come to New York for the interesting occasion. President St. John made an address of welcome, and Mr. Teece and Mr. Frankland responded. They were followed by Messrs. Homans, Phillips, Fackler, Miller, and others. Great satisfaction was expressed at meeting the guests of the evening.

The regular semi-annual meeting of the Society was held in Philadelphia, in the directors' room of the Penn Mutual Life insurance

company, Thursday, October 19, and Friday, October 20, 1893. President St. John presided. In speaking of the purposes of the Society,

he said:

"Let us welcome the event, that within the brief period that includes the history of our organization it has won the recognition which I have assumed to be the earliest and essential object of association, and then, in sequence, let us consider briefly the inquiry, what is the immediate purpose of further effort? Is it not concisely stated -increasing and legitimate influence in life insurance technics? By what agencies may we expect to reach this vantage-ground if not through our relations to the men of action and affairs, with whom we hold daily and official intercourse, to the actuarial profession, and to the public? To the first, since our constitution wisely inhibits independent associate effort in the field of practice; to the second, that by virtue of intelligence and discipline our Society shall stand as the worthy representative of that estabfished body of sound doctrine to which it holds the title by transmission; to the public, that we discern clearly the obligations which possible needs of the community may impose upon the actuary as an individual, and upon our Association. I do not present these hypotheses as significant truths, but with the hope that they may lead to earnest deliberation-respecting all subjects closely related to possible change of form in the progress of our Society-and to the belief that meanwhile existing conditions should be maintained with ever-increasing circumspection. Finally I urge that every member - of the later as well as earlier day-consider well the problem of development, that progressiveness and conservatism may each have its legitimate influence in determining a useful and honorable career for the Actuarial Society of America."

The following papers were read: "The Apportionment of Expenses and its Relation to the Distribution of Surplus," by William E. Starr; "Influence of Age at Entrance on the Force of Selection," by Thomas B. Macaulay; "Mortality Surfaces." by Léon Marie, secretary of the "Institut des Actuaries Français," Translation and note by Howell W. St. John; "Value of Medical Examinations in Industrial Insurance," by Walter S. Nichols ; "Policies on Lives and Amounts at Risk," by Asa S Wing; Mortuary Dividend Policies," by Morris W. Torrey; "The Present Financial Crisis and Legislative Impairment," by D. P. Fackler.

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Besides the reading of these papers Mr. A. A. Welch made some comments on the paper by Mr. Richter, read at the April meeting, entitled "Error in Age," and Mr. D. H. Wells commented on the criticisms of his paper on "Application of the Contribution Plan to the Distribution of Surplus."

The following new members were unanimously elected: George William Hubbell, A.B., assistant actuary of the United States Life insurance company, New York; Morris Whittemore Torrey, actuarial assistant in the Union Central Life insurance company, Cincinnati, Ohio; George Ferry Salter, M.S., managing clerk in the office of D. P. Fackler; Paul Guieysse, president of the Institut des Actuaries Français.

On the evening of October 19th, the Society was entertained by the Philadelphia members at a banquet at the Continental hotel. Mr. J. J. Barker, actuary of the Penn Mutual Life, presided. Postprandial speeches were made by Messrs. Barker, St. John, Homans, McClintock, Fackler, Ashbrook, Lippincott, Nichols, Harvey, Hemperley, Standen, and others. Mr. H. W. Smith said the "good-night."

As guests of the Philadelphia Association of Life Underwriters, the members who could remain after the adjournment enjoyed a drive from the Continental Hotel, at 3.30 P. M., Friday, through Fairmount Park, and were entertained at a reception held at 6 P. M. at the residence of Mr. W. L. More, on Chester Avenue.

The following is the official and membership roll of the society, May 1, 1894. [Officers elected at the annual meeting, April 28, 1893, and reelected April 26, 1894]:

OFFICERS AND COUNCIL.

Bloomfield J. Miller, 2d Vice-President.

Howell W. St. John, President.
Emory McClintock, 1st Vice-President. Israel C. Pierson, Secretary.

Oscar B. Ireland, Treasurer.

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David G. Alsop, Provident Life and Trust, Philadelphia, Pa.

J. J. Barker, Penn Mutual Life, Philadelphia, Pa.

Term expires.
April, 1895.
April, 1896.

April, 1897.

A. K. Blackadar, A.M., Actuary Canada Insurance Department, Ottawa, Ont.
Samuel S. Boyden, Union Mutual Life, Portland, Me.

Thomas Bradshaw, North American Life, Toronto, Ont.

J. J. Brinkerhoff, Illinois Insurance Department, Chicago, Ill.

David Carment, F.I.A., Australian Mutual Provident, Sydney, Aus.

* Hubert Cillis, Germania Life, New York City.

E. A. Cosmao Dumanoir, Institute of Actuaries, Paris, France.

*J. M. Craig, Metropolitan Life, New York City.

James C. Crawford, Northwestern Mutual Life, Milwaukee, Wis.

* Joseph A. DeBoer, A.M., National Life, Montpelier, Vt. George Ellis, Travelers, Hartford, Conn.

*David P. Fackler, A.M., Consulting Actuary, New York City.

Robert P. Field, A.M., Presbyterian Ministers' Fund, Philadelphia, Pa.

Frederick W. Frankland, F.I.A., New York Life, New York City.

John A. Fowler, American Exchange and Review, Philadelphia, Pa.

Morris Fox, A.I.A., Actuary New Zealand Life Ins. Department, Wellington, N. Z. William O. Gould, Pacific Mutual, San Francisco, Cal.

Paul Guieysse, President of the Institute of Actuaries, Paris, France.

*C. C. Hall, Maryland Life, Baltimore, Md.

Robert G. Hann, A.I.A., Equitable Life, New York City.

Augustus F. Harvey, Actuary Missouri Insurance Department, St. Louis, Mo.

Francis H. Hemperley, United Security Life Ins. and Trust, Philadelphia, Pa.

*William Hendry, Ontario Mutual, Waterloo, Ont.

Charles Hildebrand, Ph. B., Connecticut Mutual, Hartford, Conn.

*J. M. Holcombe, A.M., Phoenix Mutual, Hartford, Conn.

Sheppard Homans, Cor. Mem. I.A., Provident Savings Life, New York City.
George W. Hubbell, A.B., United States Life, New York.

* Oscar B. Ireland, A.M., Massachusetts Mutual, Springfield, Mass.

Charles N. Jones, A.B., New York Life, New York City.

George King, F.I.A., F.F.A., Atlas Assurance, London.

George H. Kirkpatrick, Prudential, Newark, N. J.

Christopher Kyle, New York Life, New York City.

*James M. Lee, Berkshire Life, Pittsfield, Mass.

George Leslie, New Zealand Life Ins. Department, Wellington, N. Z.
Charlton T. Lewis, Ph.D., Mutual Life, New York City.

*C. A. Loveland, Northwestern Mutual, Milwaukee, Wis.

*J. B. Lunger, Prudential, Newark, N. J.

*T. B. Macaulay, A.I.A., Sun Life, Montreal, Que.

*William McCabe, LL.B., F.I.A., North American Life, Toronto, Ont.
*Emory McClintock, Ph.D., LL.D., F.I.A., Mutual Life, New York City.
*W. C. Macdonald, Confederation Life, Toronto, Ont.

Leon Marie, A.B., Institute of Actuaries, Paris, France.

* E. P. Marshall, A.B., Union Central Life, Cincinnati, Ohio. Jaques Martin-Dupray, Institute of Actuaries, Paris, France.

* W. A. Marshall, Home Life, New York City.

James Weir Mason, A.M., Professor, New York City.

H. J. Messenger, Jr., Ph.D., Metropolitan Life, New York City.

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