Property-casualty rates declined 7 percent last month, a point more than in May and more than twice the 3 percent cut recorded in the same period last year, according to the Market Barometer published by MarketScout.
The Dallas-based online insurance exchange said that the soft market was now in its 16th month.
MarketScout Chief Executive Officer Richard Kerr said after the July reinsurance renewal season is completed industry analysts will have a much better picture of pricing for the rest of 2006, noting that almost 30 percent of catastrophe treaties renew this month.
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