Kurs:Cooperative Insurance/Reader
The findings of this case study of the Independent Order of Oddfellows of British Columbia sickness insurance indicate that before 1930 there was an extensive formalized system of social insurance.
Up until 1930, membership in a fraternal organization, like the Independent Order of Oddfellows, was one of the most important sources of sickness/health insurance and life insurance throughout the world.
Critics of fraternal insurance argued that while fraternal insurers may have had low costs, they led a financially precarious existence due to their hazardous pricing practices.