Property-casualty insurance rates declined 6 percent in March, according to MarketScout, the online insurance exchange.
The company found that despite the huge hurricane losses last year the market continues to soften.
"Excess capacity, higher interest rates and favorable underwriting results will continue to support a soft market for the balance of 2006, barring any unusual or cataclysmic events," said MarketScout Chairman Richard Kerr.
The March figures compare to a 5 percent decline for February of this year, and a 1 percent decline for March of 2005.
Commercial property and business income showed the only increases last month, both at 2 percent.
General liability and professional liability showed the largest declines, both at 8 percent, while umbrella/excess and workers' compensation each declined at a 7 percent rate.
In terms of account size, those posting over $1 million in premiums declined 9 percent, while the rest declined 7 percent.
By industry class, energy showed the largest increase at 10 percent, while service industries posted the largest decline at 8 percent.
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