US property and casualty rates (P&C) remain “stuck” at -5%, perpetuating the continuation of the soft market.

Electronic insurance exchange MarketScout says February results show P&C rates recording their fourth consecutive quarter at -5%.

CEO Richard Kerr says the rates by industry, coverage or account size “change a bit each month, but generally all categories are staying in the same range of premium reductions”.

MarketScout rates general liability as the most aggressively priced class at -6%, down one percentage point from January.

Manufacturing, service and contractor business moved from -5% to -4%.