Good news for the property & casualty commercial market … sort of.
According to the latest report from insurance distribution and underwriting company, MarketScout, "the composite rate for U.S. property and casualty insurance is closing in on flat or no increases." The report was focused on August 2014 rate trends for commercial insurers.
In order to retain the business they currently have, many insurers are being forced to moderate their pricing, explains MarketScout CEO Richard Kerr. And we could be heading for trouble. "If this trend continues, we should see annual rate declines very soon," Kerr says.
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