Pre-Katrina, Rates Kept Falling
Before Hurricane Katrina hit the Gulf Coast--perhaps causing a record insured loss of over $20 billion--the property-casualty market continued to soften last month, with rates down an average of 6 percent in August, according to MarketScout.com, an electronic insurance exchange.
As in the past few months, the bigger the account, the bigger the average decline in prices on a percentage basis. "Jumbo" accounts of over $1 million in premium saw rates fall an average of 12 percent, compared with "small" accounts with up to $25,000 in premium, at 5 percent.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
