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Bigger Buyers Enjoy Softer Market

The soft market deepened last month for the property and casualty insurance industry, particularly for bigger buyers, with the overall composite rate declining 5 percent, compared with 4 percent in January, MarketScout reported.

By Phil Gusman | Updated on March 14, 2010

The soft market deepened last month for the property and casualty insurance industry, particularly for bigger buyers, with the overall composite rate declining 5 percent, compared with 4 percent in January, MarketScout reported.

MarketScout Chief Executive Officer Richard Kerr said rate reductions have held to a pattern over the last six months, declining by either 4- or 5 percent during that span. “There will always be some changes month to month,” he said, “but generally we are seeing a consistent pattern of pricing in most coverage classes.”

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