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Member, Beacon International Group, Ltd.
Commercial property/casualty insurance rates fell an average of 4% in September compared with September 2008, MarketScout reported Tuesday.
The Dallas-based electronic insurance exchange noted that decrease represented a moderation from the average rate drop of August, which was 5% lower than that of a year earlier.
“Rates will continue to moderate for the balance of 2009,” said MarketScout Chief Executive Officer Richard Kerr in a statement accompanying the September report. “By early 2010, we anticipate most lines of coverage will be renewed as expiring or for a slight rate increase.”