Quote Firm Finds P-C Rate Softening Continues
NU Online News Service, Jan. 6, 3:35 p.m. EST?Property-casualty insurance rates have continued to soften in the last several months for most standard lines of coverage, according to data released today by an online quote service for agents.[@@]
In reporting that finding, Richard Kerr, the chairman and chief executive officer of MarketScout said his numbers discounted an "aberration" resulting in a two percent hike for premiums on average. The rise, he said, was due to "additional premium increases in difficult lines of coverage. Also, some major insureds are not enjoying rate reductions and there was some difficulty in securing year end reinsurance for a few programs with poor underwriting results."
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