NU Online News Service, Aug. 5, 12:37 p.m. EDT
The July composite rate for U.S. property and casualty insurance was unchanged from the previous month, staying at minus 6 percent, an electronic insurance exchange reported.
"We are still in a prolonged soft market," said a statement from Richard Kerr, chief executive officer of Dallas-based MarketScout, who offered the view that surplus lines insurers are now sitting on the sidelines during the rate downturn.
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