MarketScout: P&C Rates Drop for Fourth Consecutive Month

The property and casualty insurance composite rate was down for the fourth month in a row in December, signaling the official start of a soft market, MarketScout reported. December’s decrease of 4% in the P&C composite rate followed declines of 1%, 2% and 3%, respectively, in September, October and November, as insurers continue to fight for market share, according to MarketScout. When broken down by coverage class, workers’ compensation insurance rates were down 4% in December, as were rates for umbrella/excess policies. Commercial property, general liability, professional l...