NU Online News Service, Sept. 8, 3:24 p.m. EDT

Property and casualty rate reductions continued in August, but the degree of reductions has moderated, according to MarketScout.

In its monthly "Market Barometer" report, MarketScout said the composite rate for p&c placements in the U.S. was down 4 percent for August 2010, compared to a 5 percent reduction in August 2009.

Rates are down more in August than they were in July, but MarketScout noted that the volume of business placed in August is "considerably smaller than in most other months."

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