Classes of risk
(Actuarial Society of America, 1903)A new Medical Information Bureau or “M.I.B.” replaced the Rejection Exchange and responded to its faults. M.I.B. expanded the amount of data in circulation enormously: where companies had previously only shared cards for those individuals whom they chose to reject, they now shared cards for all individuals—even policyholders—burdened by any “impairment.” As a category, impairments belonged to insurance and as such avoided the “medical” problem: they included all characteristics generally considered a problem by medical directors, encompassing any class of risks, without worrying too much about medical tradition. If there were any questions, the Special Committee on Medical Information Bureau, which included a handful of doctors with Symonds among them and Rogers as chair, standardized the names and codes for all impairments.
(Bouk, 2015, p.150)Actuarial Society of America (1903) Experience of Thirty-four Life Companies Upon Ninety-eight Special Classes of Risks. [link]
Bouk, D. (2015) How Our Days Became Numbered. University of Chicago Press.