Project - 1800s

  • It is of great importance at the present moment that sound principles on the subject of insurance should be widely and rapidly disseminated.
  • Whether they act by producing conviction, or opposition, a step is equally gained : nothing but indifference can prevent the public from becoming well acquainted with all that is essential for it to know on a subject, of which, though some of the details may be complicated, the first principles are singularly plain.

1838 - Book - An Essay on Probabilities, and Their Application to Life Contingencies and Insurance Offices, by Augustus De Morgan

  • 1871-1, NAIC Proc.
    • Gustavus W. Smith, Kentucky Insurance Commissioner:  While on this subject, I may allude to what I consider the great trouble in life insurance.
      • It is, in my opinion, an undoubted fact that educated, intelligent, influential business men of this country, as a class, are utterly ignorant of what this thing is. 
      • There is no such mystery in this that ordinary business men cannot learn it.
        • If we can accomplish that with the people of this country—I do not mean all of them, only its leading, influential men to whom the people generally refer for advice, in reference to finance, law and other questions—I believe the institution is safe.
          • You can then conduct your state supervision with some sort of safety.
        • On the other hand, until these men do know all there is peculiar under this thing, all the state institutions that can be devised will not be able to hold this giant.
        • The men interested in the life insurance business must know something what they are about; then they will be able to attend to their own business. (p128)
    • Edwin W. Bryant, Actuary of the New York Insurance Department
      • Why, there is not the least mystery in it.
      • The only mystery is, how it has managed to live so long on the reputation of having a mystery, which it has not.   [Laughter]  (p128)
  • 1873 - LC - Augustus Hancock v. New York Life Insurance Company - [5p-jstor]
    • The intervention of the late war was a sufficient excuse to the holder of a policy of life insurance, for not paying his premiums as they accrued during...
    • The jury found a verdict for plaintiff for $1371