Following on the heels of the "revelation" that the Property and Casualty insurance industry experienced a significant drop in profitablility last year comes news that insurance rates appear to be leveling off from last falls' declines. According to an analysis done by Lehman Brothers, the average commercial account saw a drop of 2.7% over their prior rates.

Yes, rates are still dropping - a little. The exception is property insurance, where rates are bumping up significantly, with the greatest increases in catastrophic coverage hitting the 25% range.