Description: This discussion reviewed: A. Measures used by smaller companies to deal with below average policy persistency rates, B. The extent to which smaller companies issue policies with little to no retention for their own accounts, C. The extent to which new lines of insurance, such as accident and sickness, and changing distribution of business by line, plan, or age, have caused reconsideration of qualification bases for agency convention and honor awards.

Description: This discussion focused on looking at the immediate uses of the 1951 Impairment Study for the smaller company, the use of new technology such as punch card machines in an effort to reduce cost, methods of budget procedure, use of interim financial reporting and attendant issues such as interim period reserve computations, and problems with underwriting, commission accounting, or conflict with interests of own agents when small companies accept business from agents or brokers of other companies.