Market Barometer

Yesterday we took the temperature of the aviation insurance market. Today we bring you the latest gauge on the condition of the U.S. commercial property-casualty market from online insurance exchange MarketScout. Its data indicates a continuing soft market, with an average property-casualty rate decrease of 15 percent in October, compared with a year ago. According to MarketScout, the market is likely to remain extremely competitive through the remainder of 2007 and well into mid-2008. By line of coverage, general liability led the pack with a rate decline of 17 percent in October. Commercial property, business interruption, umbrella/excess, professional liability, and D&O liability experienced the second largest drop in rates of 16 percent. Surety saw the smallest rate decline of 7 percent. Check out the I.I.I.’s latest industry outlook.

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