Rate declines ease as insurers brace for reduced capacity

Berkshire Hathaway’s decision to limit prop cat capacity is being closely monitored

US property/casualty insurance placements in June showed that rate declines were continuing to regulate at a slow but steady pace, according to MarketScout, the Dallas, Texas based insurance exchange. The exchange said its composite rate index for June 2009 was minus 6% compared with minus 11% for June 2008.