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Insurance and Banking News
Recent News Stories from PRnetwire™ and eNewsChannels.com™

Edited by Christopher Simmons, senior news editor


PREMIUM REDUCTIONS WILL STIMULATE ECONOMY, CONCLUDES MARKETSCOUT

DALLAS, Texas - (Send2Press Newswire) - October 6, 2003 -- MarketScout (www.marketscout.com), a Dallas, Texas based e-commerce company specializing in the distribution of property and casualty insurance products, distributes a monthly Market Barometer that indicates the commercial property and casualty market condition in the United States. September s figures clearly reflect the beginning of the end of the property and casualty hard market.

According to Richard Kerr, Chairman and CEO of MarketScout, "The property and casualty insurance market is softening. As a result, business owners will have more free capital for investing. The pending reduction in insurance premiums will have a positive impact on the economy as these premium reductions could literally put billions of dollars into the pockets of business owners."

Based upon submissions and pricing models developed from MarketScout's database of over 60 A-rated insurance companies and 48,000 insurance professionals, September's composite rate increase is 12%. September reflects the greatest reduction in the composite rate in three years.

Kerr also stated, "Absent a major cataclysmic event or discovery of drastic under reserving methods, the market will continue to soften. The September 2003 market data is a clear signal the insurance market is nearing the end of a four-year hard market cycle. Our calculations, coupled with the Insurance Services Office (ISO) statement that the US property and casualty industry's net income after taxes rose to $14.5 billion in first half 2003 (as compared to $4.4 billion in first half 2002), indicate the property and casualty hard market is over."

MarketScout is accessible by its 48,000 users for insurance placement and research. MarketScout presents over 60 A-rated insurance companies, organized in a "Best of Class" format based upon their specific expertise.

For more information on the Market Barometer, please go to http://www.marketscout.com/barometer.asp.


Organization Website: www.marketscout.com
Source of News: Insurance Data Systems dba MarketScout

Texas Business Newswire / Insurance and Banking Newswire
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DISCLAIMER: the above news article is believed accurate but not guaranteed, and is based on news supplied by the company or organization mentioned and/or quoted in the story. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news item are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope/Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. Reproduction of this news article in any form requires written authorization — use of the raw text version of the news has no restrictions other than you may not post our news on a website which offers either PR or newswire services, or Internet Promotion services.. You may freely link to this article. eNewsChannels™ (www.eNewsChannels.com) is a unit of Neotrope®. Keyword marketing technology by DotComMojo™, a unit of Neotrope.  
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