NU Online News Service, Dec. 06, 4:04 p.m. EST

Rates for U.S. property and casualty commercial insurancepolicies were down an average of 5 percent during November, aslight decrease from the last several months, which saw declines of4 percent.

By coverage, general liability was down the most at minus-6percent, followed by commercial property with a 5 percent averagedecline in November, according to MarketScout, which produces amonthly "Market Barometer."

Competition is increasing for accounts with a premium of$250,000 to $1 million. These large accounts are down 6 percentcompared to down 5 percent in October.

"Insurers who traditionally focused on small guaranteed costaccounts are moving into the middle and larger market sectors toget a shot at larger accounts, which many insurance executives feelgenerate a higher profit margin for both insurers andintermediaries," said Richard Kerr, chief executive officer ofMarketScout.

Last month, Mr. Kerr said the industry needs to "realize this pricing environmentmay be around for several more years."

Business owners, business interruption, inland marine andumbrella/excess coverages were each down 3 percent. Commercial autoand crime were down 2 percent in November, MarketScoutreported.

By industry class, manufacturing and contracting were down 5percent each.