The falling insurance rates for commercial property-casualty insurance continued for a third year in January with a 9 percent dip on a composite basis, according to one leading exchange.
MarketScout, the Dallas-based commercial insurance market exchange, said rates have not risen on an average basis since January of 2005.
In the latest MarketScout report general liability rates were found to have dipped the most at 9 percent, while commercial auto declined only 3 percent. Both commercial property and business interruption declined 5 percent. Surety showed the least decline at 1 percent.
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