Financial crisis, cat losses fail to move rates; Soft market for P/C risks expected to last through year-end as insurer capital remains strong.(News)(Report)

Byline: COLLEEN McCARTHY

NEW YORK-The soft market for commercial property/casualty insurance won't be ending anytime soon, despite the widening financial crisis, increased catastrophe losses and deteriorating underwriting results, experts say.

While current conditions may slow the rate of price declines, most rates will remain relatively unchanged through the end of the year, they say.

Only in pockets where American International Group Inc. covers harder-to-place risks, in which a few other insurers have expressed interest in competing, might there be a firmer resistance to rate cuts, market sources say.

The various factors affecting the insurance market "are a concern, but we don't think they will turn the market in a major way, and we …