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 increase in composite property-casualty premiums, will be remembered as the beginning of a soft market, according to the chief executive of an online insurance exchange.[@@]
"The 20-to-30 percent rate increases of 2002 and early 2003 are well behind us. We have not yet bounced below the composite level of zero-percent rate increases, but I am sure a barometer with a composite rate decrease is coming very soon," predicted Richard Kerr, chief executive officer of Dallas-based MarketScout.
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