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Data Shows Hard Market Melt; Rate Hikes Average 12%

Data Shows Hard Market Melt; Rate Hikes Average 12%An online quote service for insurance agents said its data from 60 insurance companies and 48,000 industry ...

By Daniel Hays | Updated on October 07, 2003

Data Shows Hard Market Melt; Rate Hikes Average 12%An online quote service for insurance agents said its data from 60 insurance companies and 48,000 industry users shows that, for most lines, hard pricing has come to an end.

If current trends persist, “we will continue coasting away from a hard market,” said Richard Kerr, chairman and chief executive officer of the Dallas-based Marketscout, which made the findings. Still, with pricing at its current levels, Mr. Kerr said, “I wouldnt call it a soft market.”

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