Property-casualty insurance rates declined 6 percent in March, according to MarketScout, the online insurance exchange.
The company found that despite the huge hurricane losses last year the market continues to soften.
"Excess capacity, higher interest rates and favorable underwriting results will continue to support a soft market for the balance of 2006, barring any unusual or cataclysmic events," said MarketScout Chairman Richard Kerr.
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