US soft market persists as competition for large accounts continues
The prevailing soft market conditions in the US insurance market have continued into February with property and casualty (P&C) rates falling 5 percent for the fourth consecutive month, according to MarketScout.
The Texas-based electronic insurance exchange, recorded year-on-year premium falls in all 14 classes of coverage in monitors in the US, with the largest fall coming in general liability at -6 percent, furthering a 5 percent decline in January.
The research also identified that the competitive pricing was focused towards...
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