The soft market continues unabated, but at least it is showing some indication of stabilizing itself as a monthly composite barometer of rates held steady for a fourth month at minus-5 percent.
"It seems the market is stuck at minus-5 percent on a composite basis," said Richard Kerr, chief executive officer of Dallas-based MarketScout, an insurance exchange that produces a monthly report. "The rates by industry, coverage or account size change a bit each month, but generally all categories are staying in the same range of premium reductions."
The last time the barometer changed was back in October when the composite rate moved to minus-4 percent.
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