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P-C Oct. Rates Down 15% Amid High Profits

MarketScout said, however, that the profits are driving the soft market, resulting in a composite property-casualty average rate change of minus-15 percent in October. Commercial property and general

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The latest monthly “Market Barometer” survey found property-casualty rates on average plunging 15 percent in October, even as insurers are heading for an “historic” underwriting profit this year.

The report by Dallas-based MarketScout, the online insurance exchange, notes that the profits follow decades of sub-par performance by the industry.

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