The commercial property/casualty insurance market could turn soft soon, according to the CEO of Dallas-based electronic insurance exchange MarketScout. Employment practices liability insurance rates rose 2%, and rates for six other lines increased by 1%, but rates for half of the lines tracked by MarketScout, including workers compensation and commercial property, were flat. No individual industry class experienced rate increases of more than 1%. “We are on the cusp of a soft market,” said MarketScout CEO Richard Kerr in a statement accompanying the report.
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