Premium rates for 14 sectors of property and casualty insurance were down between 7- and 12 percent last month, an electronic insurance exchange reported today.
Dallas-based MarketScout said rates so far have not been significantly impacted by the meltdown of American International Group as well as investment banks.
Richard Kerr, MarketScout founder and chief executive officer, said in a statement: "The impact of the financial collapse of name brand banks, insurers and other companies is pending. We may start seeing rating adjustments in October. Terms and conditions for most policyholders had already been agreed in September, prior to the market collapse."
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.