After more than three years of rate increases in P&C premiums, a soft market cycle is expected to begin early this year, according to MarketScout, an insurance distribution and underwriting company headquartered in Dallas. MarketScout compiles the Commercial and Personal Lines Market Barometers.
"We are on the cusp of a soft market," said MarketScout CEO Richard Kerr. “Throughout 2014, the composite P&C rate slowly drifted towards renewing as expiring and in December we finally hit that mark. Historically, the move to softer rates is in line with prior market cycles.”
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