Addresses and papers on life insurance and other subjects . vstematic and periodical foundations of this structure have been laid with care,and the business is conducted principally by large and thor-oughly responsible companies. The nature of the businessdemands constant vigilance and careful supervision of allits details, and the interests involved are so great that a retro-grade step after these twenty-eight years seems to be utterlyinconceivable, while a hopeful outlook for the future appearsto be entirely consistent with the remarkable history of thepast.* * The rapid progress
Addresses and papers on life insurance and other subjects . vstematic and periodical foundations of this structure have been laid with care,and the business is conducted principally by large and thor-oughly responsible companies. The nature of the businessdemands constant vigilance and careful supervision of allits details, and the interests involved are so great that a retro-grade step after these twenty-eight years seems to be utterlyinconceivable, while a hopeful outlook for the future appearsto be entirely consistent with the remarkable history of thepast.* * The rapid progress of Industrial insurance in Ihe United States is clearly indicated by thetabic in Appendix E. which presents the Industrial insurance in force with all Industrial companies,and the Industrial insurance in force with The Prudential Insurance Company, which was the pioneercompany to transact this form of insurance in the United States. 43 Chapter II THE FIRST QUARTER CENTURY OF INDUSTRIAL INSURANCE IN THE UNITED STATES PUBLISHED IN THE INSURANCE RECORD 1902. THE FIRST QUARTER CENTURY OF INDUSTRIAL INSURANCE IN THE UNITED STATES ]he first American Industrial policy wasissued by The Prudential in Newark, N. J., lon the tenth of November, 1875. Thatday may, therefore, properly be considered , as the date of the commencement of actualbusiness operations, although for several ^ years preceding, careful consideration hadbeen given to the perfection of the necessary details ofbusiness management, and the preparation of tables ofpremium rates had for months been in the hands of askilled mathematician. Careful attention was paid to theresults of life insurance methods in England, and, after ma-ture consideration, the essential principles of the PrudentialAssurance Company of London were adopted, but modifiedto suit American conditions. The London Prudential hadcommenced the issue of Industrial policies in 1854, and byJanuary i, 1875, had almost 2,000,000 policies in force—abusiness succ
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