The Colorado State University forecast team said today that the chance of a major hurricane hitting U.S. shores is better than 50 percent this year during a generally moderate hurricane season.

Using data supplied by the Insurance Services Office Inc., Meyer Shields of Stifel Nicolaus in Baltimore said in an analyst's note that to counteract a 1 percent annual increase in loss costs, there

Property-casualty insurance rate decreases were one point less in March than the previous month, according to tracking by an electronic insurance exchange.

Despite continued increases in loss costs, the private passenger auto insurance industry should continue to remain profitable, benefiting from the weak economy, a financial analyst said.

Two Bermuda insurers continued their fight to acquire IPC Holdings Inc. with a letter from Validus Holdings Ltd. saying the Max Capital Group Ltd. overstated the financial benefit IPC shareholders would receive by accepting its offer.

While insurance brokers say they are starting to detect signs of firming in the commercial insurance marketplace, buyers on average are still seeing premium rates decline.

In a report last week, the General Accounting Office advised Treasury to withhold $30 billion from American International Group until the company agrees to renegotiate contracts with employees and final counterparties.

Actions being taken today by state insurance regulators will deal with current inefficiencies and create a more effective, state-based regulatory system, the chief executive officer of the National Association of Insurance Commissioners said.