US P&C rates down 3%; 2010 to stay soft
Competitive conditions continue to prevail in the US P&C market, with the composite rate measuring down 3 percent year-on year in July, according to information provider MarketScout.
And, barring a major catastrophe, 2010 will remain soft, according to MarketScout founder and CEO Richard Kerr.
"Insurers received just what they needed to continue aggressive pricing for the balance of the year - favourable mid-year reinsurance terms. Rates will continue to moderate in select coverages or industries but the composite rate will...
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