Insurance Rates Skyrocketing...WHY?

[Jason Cobb]

Over the last two years, property insurance for my 12 unit has increased a cumulative 33%.  No additions, no massive gain in value, no claims.  Shopped around, previous agencies re-quoted my building with even larger increase.  

My area is not growing rapidly, no large increase in valuations, no increase in costs to build/maintain and little job growth. 

Are the insurance agencies price fixing?  I have looked at this objectively from every angle, so far, the probability of price fixing is the only viable answer.

How can they all increase rates around 33 to 38% in two years without a justification of price values, costs to re-build, etc.?

If anyone can explain this phenomena, I am all ears. 

Thanks, -J. Cobb