Insurance rates continued their precipitous slide, dropping 16 percent for the month of December and continuing a 34-month downward trend, according to an online insurance market.
Dallas-based MarketScout issued its monthly Market Barometer, based on the insurance exchange's figures, which showed the overall market drop for the year was an average 13.25 percent. MarketScout has been tracking the market direction since 2001.
Richard Kerr, MarketScout's chief executive officer, said, "We just don't have any appreciable evidence which would enable us to predict the market will harden in the first half of 2008. In fact, most of our research is pointing toward a continued soft market for all of 2008."
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