Overall property-casualty rates declined by an average of 7 percent last month, a point higher than in May and more than twice the 3 percent figure recorded a year earlier, according to the Market Barometer.
The softening market entered its 16th month in June, according to MarketScout, the Dallas-based online insurance exchange with over 58,000 registered users that calculates the monthly barometer.
However, not all lines are seeing prices fall. Indeed, noted MarketScout Chief Executive Officer Richard Kerr, "property treaties with wind coverages or exposed assets are predicted to come in with 50 percent to 75 percent rate increases. Other treaties should be flat or down slightly."
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