NU Online News Service, Oct. 5, 3:45 p.m. EDT

The average U.S. property and casualty rate decrease was 4 percent during September, with the most competitive rates for accounts over $1 million in premium, according to MarketScout.

In the monthly “Market Barometer” report, Dallas-based MarketScout’s Chief Executive Officer Richard Kerr said the lengthy soft market and recession are “creating a lot of pain for everyone.” That includes insurers, reinsurers, agents and brokers, he said.

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