The decline of property-casualty insurance rates slowed modestly in February, but the market remains relatively soft, according to MarketScout, the Dallas-based electronic insurance exchange. The firm’s monthly “Market Barometer” survey found a 5 percent average reduction in rates last month, down from 6 percent in January.

“February is a traditionally slow month for insurance placements,” said Richard Kerr, chairman and CEO of MarketScout. “The volume of business placed in February is small, so the slight hardening trend may reverse in March.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.