The soft market continues unabated, but at least it is showing some indication of stabilizing itself as a monthly composite barometer of rates holds steady for a fourth month at minus-5 percent.
"It seems the market is stuck at minus-5 percent on a composite basis," said Richard Kerr, chief executive officer of Dallas-based MarketScout, an insurance exchange that produces a monthly report. "The rates by industry, coverage or account size change a bit each month, but generally all categories are staying in the same range of premium reductions."
For the fourth month in a row, the overall market barometer came in at minus-5 percent. The last time it changed was back in October when the composite rate moved to minus-4 percent.
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