The Dallas-based electronic insurance exchange found that rates decreased for all classes of coverage, ranging from a 4% drop for directors and officers liability insurance to 10% decreases for commercial property, commercial auto and general liability. MarketScout also reported larger accounts got larger rate decreases.

But the soft market may be winding down, Richard Kerr, MarketScout's chief executive officer, said in a statement announcing the December results.

"At the end of every year, we calculate the rate adequacy of the property and casualty industry," Mr. Kerr said. "According to our calculations, the property and casualty rate index fell below 'rate adequacy' in the fourth quarter of 2008. Therefore, we believe this signifies the beginning of the end of the current soft market. It may take as much as a year for rates to actually start increasing, but the soft market trend has turned."

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