NU Online News Service, April 21, 3:33 p.m. EDT

Despite a premium price increase push by insurers, rates remain competitive, especially for new accounts with good risk profiles, the chief executive of Brown & Brown said as the firm reported a 7 percent first-quarter decrease in net income.

During a financial analyst's conference call today, J. Hyatt Brown, chief executive officer of the insurance brokerage firm, said, "Everyone talks about how things are going to change next week or next month, but we think it probably won't be until 2010 before that happens."

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