A pricing decline of 9 percent for umbrella/excess coverage last month was the most dramatic figure in the May MarketScout P&C Barometer, which posted a composite decrease three points lower for all insurance sectors.
The Dallas-based electronic insurance exchange reported commercial property pricing rose 2 percent.
MarketScout Chairman Richard Kerr said that figure may seem slight compared to some price rises in the Gulf and other coastal areas. "You have to remember Florida has about $2 trillion worth of property, but that is compared to $180 trillion in the entire nation," he said.
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