Search
 

October Continues 'Slow & Steady' Trend, MarketScout Says

With U.S. property and casualty insurance rates falling 4 percent in October 2010, the industry may be experiencing a "new normal" in terms of market conditions, according to an executive.

By Susanne Sclafane | Updated on November 14, 2010

With U.S. property and casualty insurance rates falling 4 percent in October 2010, the industry may be experiencing a “new normal” in terms of market conditions, according to an executive.

Richard Kerr, founder and chief executive officer of MarketScout–whose firm produces the metric known as the monthly market barometer–observed that “since February 2005, rates have been cut in all areas regardless of how the data is measured.”

He added, “It doesn’t matter if you measure by line of coverage, industry group, or the size of account–insureds have enjoyed a rate reduction every month with the exception of a month here and there for directors and officers coverage.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.