MarketScout warns that soft market price pressure is the ‘new normal’
Insurance exchange MarketScout's latest snapshot of US property and casualty (P&C) conditions shows that the protracted soft market continues to mire the sector with monthly rate reductions now looking like an industry norm.
The firm's monthly market barometer survey reported composite rates for the P&C sector were down 4 percent for October, in line with the previous month.
MarketScout said the move extends the "slow and steady moderation trend" that began in August 2009 as the pace of rate decreases...
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