Workers' Comp Renewals Take A Hike
Poor insurer profits this year and a domino effect from Sept. 11 terrorist attack losses are combining to send the 2002 renewal rates for workers compensation coverage skyrocketing, according to industry professionals.
Brokers and analysts described an ugly situation for many insureds, with increases ranging from more than 10 percent to over 40 percent, along with increasingly stringent contract terms.
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