The average for commercial property-casualty prices showed a 6 percent decline in January, according to an online wholesale insurance marketplace.
MarketScout, issuing its monthly report on rates, said despite predictions of a return to a hard market by analysts, the p-c market shows no signs of hardening overall, though some lines exhibited price increases.
“After the worst insured hurricane season on record pummeled the industry with over $50 billion in losses, many of the insurance industries' well respected analysts predicted a tightening market,” said Richard Kerr, chairman and chief executive officer of Dallas-based MarketScout.
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