The depth of reductions in U.S. property and casualty insurance rates, which had been slowing over the course of 2009, accelerated again last month, MarketScout reported.
"The October rate reversal does not bode well for those looking forward to the end of the soft market. But maybe October was an anomaly…Maybe," said Richard Kerr, chief executive officer of Dallas-based electronic insurance exchange MarketScout.
According to the firm's monthly "Market Barometer," the average rate decline for p&c coverages in October was 5 percent, compared to an average drop of 4 percent for September, breaking the "moderation trend," according to Mr. Kerr.
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