The Dallas-based insurance exchange said in its monthly report that the property/casualty market remains soft as many policyholders revised their terms and conditions agreements in September, before the market collapse.

"The impact of the financial collapse of name-brand banks, insurers and other companies is pending," Richard Kerr, chief executive officer of MarketScout said in a statement. "We may see rating adjustments in October."

By coverage line, commercial property premiums decreased 12%; general liability premiums fell 10%; commercial auto premiums fell 10%; and business owner's policy premiums dropped 10%.

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By Jeff Casale

Copyright © 2008 Crain Communications, Inc.