MarketScout: Avg. P-C Rate Hike 2% In 2004
NU Online News Service, Jan. 11, 4:04 p.m.EST?Calendar year 2004, with an average 2 percent increasein composite property-casualty premiums, will be remembered as thebeginning of a soft market, according to the chief executive of anonline insurance exchange.[@@]
"The 20-to-30 percent rate increases of 2002 and early 2003 arewell behind us. We have not yet bounced below the composite levelof zero-percent rate increases, but I am sure a barometer with acomposite rate decrease is coming very soon," predicted RichardKerr, chief executive officer of Dallas-based MarketScout.
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