In March, MarketScout's Market Barometer showed that rateincreases picked up steam ever so slightly to plus-3%, but inApril, a multitude of factors caused rates to moderate again toplus-2%.
MarketScout CEO Richard Kerr says, “The April compositecommercial rate remained in positive territory at plus-2%, but wemay see rate reductions by year end if the current trend continues.If you are in the market on a daily basis, you can almost feel achange in the wind. No reasonable insurer wants rate reductions.However, everyone seems to feel they are coming.”
MarketScout says insurers are finding reasons to fight overbusiness, such the impact of reinsurance pricing and thecompetition there from catastrophe bonds and insurance-linkedsecurities.
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