What’s New: In Brief (September 16, 2008)

E2Value Inc. has inked an agreement with Compu-Quote Inc. to deploy and provide access to the eValueMCV cost engine and methodology.Beginning in September 2008, Compu-Quote will distribute the ezITV insurance to value application to insurance brokers across Canada, a Compu-Quote release says.The ezITV is a desktop tool integrated with Compu-Quote’s PropertyRater application that will access the eValue-MCV cost engine to calculate residential replacement cost valuations.

The U.S. property and casualty composite rate index for August 2008 dipped 10%, according to MarketScout’s Market Barometer.Commercial property rates sagged 12%, business interruption dropped 12%, inland marine decreased 8%, general liability dipped 10% and professional liability and D&O liability decreased 9% and 7% respectively, the online insurance exchange said.The most aggressive rate-cutting of all lines of coverage in August occurred in the business owners policies (BOPs) from the small accounts segment (less than US$25,000 premium), MarketScout reported. This line dropped 14% compared to an average 10% decline for all other types of small accounts.