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Showing rate increases/decreases were flat for the month, MarketScout’s October barometer provides further evidence of the soft market making a turnaround. One insurance-broker executive says he believes the industry is actually primed for an increase in demand— although likely in areas outside the traditional property and casualty arena.

“With two consecutive months of a flat market, we are on the cusp of a composite rate increase,” says Richard Kerr, CEO of Dallas-based MarketScout.

Kerr notes that according to October’s numbers, umbrella liability and public entities recorded rate decreases of 1 percent. Meanwhile, business interruption, inland marine, general liability, commercial auto, professional liability, fiduciary and crime were flat.

Business-owner’s policy, directors’ and officers’ liability, employers’ professional liability insurance and surety were all up 1 percent, while workers’ compensation was up 2 percent.

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