Despite market conditions that should be edging pricing up, the U.S. property and casualty market still remains soft with composite rates in May running at minus-4 percent, according to online insurance-exchange MarketScout.
The Dallas-based company's monthly market indicator now has rates at minus-4 percent for the last two months. Prior to April the barometer held steady at minus-5 percent for four months.
Richard Kerr, CEO for the company, says in a statement, "Financial and economic metrics may support a market turn, but real-life situations have a considerable influence on the actual pricing set forth by underwriters."
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