Although insurance policy holders are no longer surprised when they learn of rate hikes, many were shocked to read about a supposed 26% increase for Chiropractic Benefit Services (CBS) policies in a recent Dynamic Chiropractic article.

"That figure was either a total fabrication or an incredibly careless mistake on the part of the Dynamic Chiropractic editor," stated Timothy Feuling, CBS Vice President. "It's true that some CBS policy holders may see a rate hike in the future, but most will barely feel the premium increase due to the additional discounts we'll be offering. Some policy holders won't experience any rate increase and others are even going to see a decrease."

Throughout the U.S., most insureds have seen premiums rise on all types of policies, and D.C.s have been no exception. Still, they've suffered less than many M.D.s, who have seen their premiums soar. "Rates have been skyrocketing since January, with some doctors now paying $200,000 annually, up from $40,000," the Las Vegas Review-Journal reported on August 06, 2002.

That seems astounding, yet in July, Public Citizen put it in perspective: "The research shows that medical malpractice insurance premiums for the riskiest specialties increased 10% from 2000 to 2001. Auto insurance premiums increased 8.4%, homeowners insurance premiums increased 8% and health insurance premiums increased 11% in that year."

Overall, D.C.s have fared remarkably well and CBS officials say they're doing everything they can to keep premiums down.

"Our price is incredibly competitive, considering we don't have the exclusions, limited coverage and hammer clauses our competitors hide in their policy language. In many states, we were 50% of the price of our competitors, yet we offer broader coverage," Feuling noted, adding that this is CBS's first rate increase in 13 years.

"Chirosecure, ICA's program, increased rates of a doctor in California by over 30% at renewal, and other competitors in our market are increasing rates or will be forced to, in order to avoid financial trouble in the future, due to a lack of premium collected to offset losses," Feuling said.

Two of ChiroSecure's underwriters, Frontier and PHICO, went bankrupt, and PHICO was criticized for not having collected enough premium to pay for claims already filed as well as future claims. "This might have been avoided if the program had increased rates in time," Feuling commented.

He added: "CBS is a pro-active and progressive professional liability insurance program focused on providing the ultimate safe haven, policy coverage and defense for chiropractors; we can't sacrifice our vision so the few chiropractors who focus only on cost can save money. Having a 'cheap' policy doesn't help you if the company goes out of business."

In addition, CBS policies provide several benefits not found in most other policies. They do not contain exclusions and hammer clauses that leave the doctor vulnerable to paying out-of-pocket at the time of a loss, and provide coverage for sexual harassment suits and board complaints.

Feuling said he will be announcing other positive changes in CBS policies. "We are expanding our already broad malpractice coverage to ensure that our doctors have the most comprehensive protection available."