<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
The industrial revolution moved many people from the country side to the town where they lived in rows of houses that backed on to each other and worked in crowded condition within factories. In many cases the houses were owned by the factory owner. This was a far cry from the days of farming where families and the local community would help those in trouble. Now families needed to make provision in case the worse happened.
The families where also earning more than they had on the farm and this gave them small amounts of surplus income. Workers therefore had to make provision and local people started to form friendly societies to provide for sickness and funeral expenses. These were effectively self help groups.
By the end of the 18 th century there were thousands of these life insurance societies. From these friendly societies followed the practice of life insurance being issued for small amounts to many families with premiums being collected weekly or monthly in cash from the policyholder by the society’s local collector. This ‘industrial life insurance’ boomed in the middle of the 19 th century and spawned some of the largest life insurance companies such as the Prudential which started out as an industrial life office in 1848.
Industrial life insurance is based around simple low premium polices where the premiums are collected weekly in cash and with claims being paid out in the same way. Because of the popularity for this type of policy the Industrial Insurance Act 1923 was issued and created the Industrial Insurance Commissioner to supervise the business. Whilst this type of policy was affordable to all, the administration costs were high and now a days it is probably only attractive to those who do not have access to bank accounts.
Because of the relatively poor value for money of the insurance this type of policy has fallen into decline especially since the Financial Services and Markets Act 1986 which came into force in 1988. In 1923 there were 200 active industrial life offices and now only a few are left. Many have merged with other life offices or have changed to selling other types of life insurance business.
Industrial Life insurance is now regulated by the Financial Services and Markets Act 2000 in the same way as other forms of life insurance and the Industrial Life Insurance Act has been repealed.
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Government intervention