NU Online News Service, July 7, 3:55 p.m. EDT
MarketScout insurance exchange reported that the U.S. property and casualty market remained soft, as rate declines for risk placements continued moderating at a slow but steady pace.
The composite rate index for June 2009 was minus 6 percent compared to minus 11 percent for June 2008.
Richard Kerr, chief executive officer of Dallas-based MarketScout, said that "June renewals show rate declines that continue to moderate, with many insurers waiting to determine how the July 1 reinsurance renewals will impact capacity."
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