Said Mr. Kerr, "The U.S. property and casualty market is still soft; however, rates had been progressively moderating for the last 21 months, trending from a reduction of minus 15 percent in January 2008 to minus 4 percent in September 2009. During this period there were no reversals in the composite rate."

He noted that "for 21 months, the Market Barometer has consistently measured rates either down, or at least flat on a month-to-month comparison As a result, insurance companies and intermediaries have been anxiously awaiting a month where we report the composite rate as zero with most insurance policies renewing 'as expiring.'"

The barometer found that general liability, property, inland marine, umbrella and employment practices liability rates were all down even more in October than in September. By industry class, manufacturing accounts experienced the most aggressive rate reductions, down 6 percent.

MarketScout said the National Alliance for Insurance Education and Research conducted pricing surveys it used in its analysis of market conditions.

In other findings for coverage class, MarketScout said four segments declined by 5 percent: commercial property, inland marine, umbrella/excess and workers' compensation. Only one line, commercial auto was down 4 percent.

Five lines were down 3 percent: business interruption, business owners policy, professional liability, EPLI and surety.

By account size, those classed as small, up to $25,000, were down 4 percent; medium accounts from $25,000 to $250,000 were down 5 percent; large accounts, $250,001 to $1 million, were down 6 percent and jumbo accounts over $1 million were down 5 percent.

Among the industry class groupings, manufacturing was down 6 percent; contracting and service were down 5 percent and habitational, public entity, transportation and energy were all down 4 percent.

MarketScout says its exchange underwrites and distributes hundreds of product lines to an over 35,000-member agency network across the United States. Over 50 "A" rated carriers participate in the MarketScout exchange platform at www.marketscout.com.