Actuarial Mathematic, Second Edition by Browers Gerber Hickman

By Browers Gerber Hickman

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1550–1795 1550 1600 1650 1700 1750 1795 Guild Fellow craftsmen Special General Total % N 100 88 86 84 74 62 0 6 12 11 10 9 0 0 0 2 3 3 0 6 2 4 14 25 100 100 100 100 100 100 7 33 105 161 276 354 Key: Membership restricted to: Guild Fellow craftsmen Special Masters and/or journeymen of a guild Craftsmen in the same occupation General Migrants from a particular region (and their descendants) or co-religionists All other schemes Source: Bussen database 5 Benefit Levels and Conditions What could one expect from mutual insurance?

Where a pair of multiples is given in the bottom panel of the table, the lower figure relates to winter relief paid to a single pauper while the higher figure relates to winter relief to a pauper family with two children. 31 These restrictions were meant to curb moral hazards, which we discuss in more detail later. Alongside burial and sickness insurance came insurance for old age. A few guilds offered members no longer able to work a pension from the age of 50 or 60. In 1654, for example, the Amsterdam shoemakers’ guild ruled that from about the age of 60, shoemakers could receive a pension if employed, for the period from 1654–1765, as calculated by Riley (1987, appendix).

When the Kingdom of the Netherlands was established in 1814, the guilds were not re-established; they were finally abolished in 1820. Though the guilds could not be saved, the attempts to do so led to surveys listing Dutch guilds and their schemes, as well as a few commercial schemes. 1 lists the number of such schemes and also offers an estimate of the percentage of the total Dutch population directly covered. At first sight, the numerical coverage is unimpressive. Even the burial schemes directly covered only 3–7% of the total population (the margin reflects the fact that while the number of funds is known, their precise average size is not).

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