Terrorist Attacks PushProperty Rate Hikes Higher
A dramatic upturn in commercial property rates by fall of 2000 has continued into 2001, and the aftermath of the Sept. 11 terrorist attacks will most likely drive rates up even further, according to industry observers.
How far up will they go? “There are some limits to that,” said Clint Harris, vice president, insurance research and publications for Hartford-based Conning and Company. “Could it be 20 percent? It could. Could it be 100 percent? On rare occasions.”
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