The chief executive of online insurance exchange MarketScout said the decline in insurance prices has halted because rates have become inadequate to cover losses and expenses.
But according to Richard Kerr, chief executive officer of Dallas-based MarketScout, the expected increases that should follow may not be seen for months.
A chart released by Dallas-based MarketScout illustrating rate adequacy, shows soft market conditions have pushed property-casualty rates down 7 percent below adequate levels in 2008.
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