Rising rates are driven by the increased cost of claims

This chart illustrates the increase in rates over the last six years:

• $2.77 in 1999.
• $2.91 in 2000.
• $2.57 in 2001.
• $2.48 in 2002.
• $3.18 in 2003.
• $3.29 in 2004.
• $3.24 in 2005.
• $3.41 in 2006.

The average rate increase since 1999 is:

• 45.9 percent for all industrial insurance.
• 23.3 percent for masonry.