US commercial property and casualty (P&C) rates again remained flat overall last month, after a 37-month run of rises ended in December, according to MarketScout.

“There are differing views on how long and deep this pending soft market cycle may last,” CEO Richard Kerr said. “However, few insurers are projecting rate increases.”

There were changes in commercial property, up 1% after falling flat in December, and employment practices liability insurance, up 1% after rising 2% in December.

Rates for business-owner policies, general and directors’ and officers’ liability, commercial motor and professional liability grew 1%. All others were flat.

In personal lines the combined average rate was up 2% last month, the same increase as in December.

Mr Kerr says last year was a good one for US personal lines insurers, largely thanks to the absence of major natural catastrophes. “As a result, rates are holding steady.”

Rates for motor grew 2% in January, with personal articles up 1% and homeowners up 3%.