January 10, 2024
The Birth of Actuarial Science and Life Insurance, Pt. 2
Stuff You Missed in History ClassAbout this episode
As life insurance and assurance became more common, companies that offered coverage ran into in problems in the 18th and 19th century. Part 2 also covers how Insurance has been used by gamblers as a grisly amusement. Research: Bell, John. “London’s Remembrancer … “ E. Cotes. London. 1665. Accessed online: https://quod.lib.umich.edu/e/eebo2/A27350.0001.001?rgn=main;view=fulltext Bellhouse, David R. “A New Look at Halley’s Life Table.” Journal of the Royal Statistical Society.” 174, Part 3, pp. 823–832. 2011. https://www.medicine.mcgill.ca/epidemiology/hanley/c609/material/BellhouseHalleyTable2011JRSS.pdf Bennetts, N., (2019). MORGAN, WILLIAM (1750 - 1833), actuary and scientist. Dictionary of Welsh Biography . Retrieved 22 Dec 2023, from https://biography.wales/article/s12-MORG-WIL-1750 Boyce, Niall. “Bills of Mortality: tracking disease in early modern London.” The Lancet. April 11, 2020. https://doi.org/10.1016/S0140-6736(20)30725-X Chatfield, Michael and Vangermeersch, Richard, "History of Accounting: An International Encyclopedia" (1996). Individual and Corporate Publications . 168. https://egrove.olemiss.edu/acct_corp/168 CLARK, GEOFFREY. “Life Insurance in the Society and Culture of London, 1700-75.” Urban History , vol. 24, no. 1, 1997, pp. 17–36. JSTOR , http://www.jstor.org/stable/44612859 de Roover, Florence Edler. “Early Examples of Marine Insurance.” The Journal of Economic History , vol. 5, no. 2, 1945, pp. 172–200. JSTOR , http://www.jstor.org/stable/2114075 Fouse, L. G. “Policy Contracts in Life Insurance.” The Annals of the American Academy of Political and Social Science , vol. 26, 1905, pp. 29–48. JSTOR , http://www.jstor.org/stable/1011003 “James Dodson’s tables of premiums, 1756.” Institute and Faculty of Actuaries. https://www.actuaries.org.uk/learn-and-develop/research-and-knowledge/library-services/historical-collections/archive-equitable-life-assurance-society/highlights-equitable-life-archive/james-dodson-s-tables-premiums-1756 Eggen, Olin Jeuck. "Edmond Halley". Encyclopedia Britannica, 21 Dec. 2023, https://www.britannica.com/biography/Edmond-Halley Greenwood, Major. “The First Life Table.” Notes and Records of the Royal Society of London. October 31, 1938. Volume 1, Issue 2. https://royalsocietypublishing.org/doi/abs/10.1098/rsnr.1938.0017 Harford, Tim. “What makes gambling wrong but insurance right ?” BBC News. March 20, 2017. https://www.bbc.com/news/business-38905963 Ivry, David A. “Historical Development of Some Basic Life Insurance Terminology.” The Journal of Insurance, vol. 28, no. 3, 1961, pp. 65–69. JSTOR, https://doi.org/10.2307/250376 Lewin, Chris. “The Creation of Actuarial Science.” ZDM – Mathematics Education. 2001. Vol. 33. https://subs.emis.de/journals/ZDM/zdm012i2.pdf Ogborn, M.E. “The Professional Name of Actuary.” Journal of the Institute of Actuaries. 1956. https://web.archive.org/web/20081217144303/http://www.actuaries.org.uk/__data/assets/pdf_file/0020/25382/0233-0246.pdf Rose, I. Nelson. “How Insurance Became (Mostly) Not Gambling.” Gaming Law Review and Economics.Nov 2014.864-872.http://doi.org/10.1089/glre.2014.1892 ROWELL, A. H. Journal of the Institute of Actuaries (1886-1994), vol. 88, no. 3, 1962, pp. 387–89. JSTOR, http://www.jstor.org/stable/41139514. Accessed 27 Dec. 2023. Thomas, R., & Chambers, Ll. G., (1959). PRICE, RICHARD (1723-1791), philosopher. Dictionary of Welsh Biography. Retrieved 27 Dec 2023, from https://biography.wales/article/s-PRIC-RIC-1723 “Actuary Overview.” Best Jobs. U.S. News and World Report. https://money.usnews.com/careers/best-jobs/actuary Walford, Cornelius. “History of Life Assurance in the United Kingdom.” Journal of the Institute of Actuaries and Assurance Magazine, vol. 25, no. 2, 1885, pp. 114–33. JSTOR, http://www.jstor.org/stable/41135809 Walford, Cornelius. “History of Life Assurance in the United Kingdom (Concluded).” Journal of the Institute of Actuaries (1886-1994), vol. 26, no. 6, 1887, pp. 436–65. JSTOR, http://www.jstor.org/stable/41136141 Whittle, Matt. “How To Become An Actuary: Responsibilities, Practice Areas And Certifications.” Forbes. Nov. 29, 2022. https://www.forbes.com/advisor/education/become-an-actuary/ See omnystudio.com/listener for privacy information.