Property-casualty premium rates for November showed a continued downward swing with a composite decrease of 9 percent compared to the same period last year, according to MarketScout.
MarketScout, the Dallas-based online electronic insurance exchange, compiled its findings from its own submissions, interviews with industry executives and surveys conducted by the National Alliance for Insurance Education and Research.
The firm said workers' compensation and general liability represented the largest segment of the market and were down 9 and 10 percent respectively. Property, business interruption and inland marine continued to soften further with rate decreases of 4 percent. Crime and surety were the only coverages with price increases, which were up 2 percent.
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