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Member, Beacon International Group, Ltd.
DALLAS--The soft property/casualty market is continuing, MarketScout reported Friday.
The Dallas-based electronic insurance exchange found that overall property/casualty rates were down 8% in December compared with the same month in 2005.
"Calendar year 2006 started with a rate decrease of 6%, and rates became marginally softer throughout the end of the year," said MarketScout in a statement announcing the results.
General liability rates fell the most in December, down 9% from December 2005. Both workers compensation and umbrella/excess rates fell 8% from a year earlier.
MarketScout reported no increases in any line, although both crime and surety rates remained unchanged.
As has been evident in the past, MarketScout found that, generally speaking, larger accounts enjoyed larger rates cuts than smaller accounts, although accounts of all sizes registered rate decreases.