Of the 136 broker members surveyed during the past three months, including July 1 renewals, 60 percent of respondents said premium rates rose between 10 to 30 percent. Twenty-two percent said rates rose between 30 to 50 percent.

Among small firms, with commissions and fees of less than $25,000, 75 percent reported rates rising in the 10 to 30 percent range, and 7 percent said rate increases were between 30 to 50 percent.

On the other end of the scale, 31 percent of large firms (commissions and fees of more than $100,000) said rates were up between 30 to 50 percent, and 42 percent said rates rose between 10 to 30 percent.

In individual lines, business interruption, commercial auto and general liability were reported up between 10 and 30 percent by more than 65 percent of those surveyed.

More dramatic increases were seen in areas such as medical malpractice, where 22 percent of those surveyed said increases ranged between 50 to 100 percent, and 18 percent said increases were at more than 100 percent. Forty-two percent said they did not handle the line.

The CIAB said brokers report that more and more physicians are finding they must join state assigned risk pools or do without insurance due to increased rates and strict underwriting.

“The market is rough,” Mr. Crerar said. “Not surprisingly, our members see increasing consumer frustration. Many industry consumers had hoped the market would settle down by the July 1 renewal period. But our survey proves categorically that did not happen.”

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, July 29, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.