US personal lines rates increased by an average of 4% last month as insurers prepared for an active hurricane season.

Insurance exchange MarketScout says all homeowners’ and auto policies rose 4% – the same growth as the previous month – and personal articles were up 2%.

“We are seeing an increased interest in the high net worth space,” MarketScout CEO Richard Kerr said.

“There are two major insurers considering moving into high-net-worth in a meaningful way. If they do, the increased competition could have an impact on rates.”

Commercial property and casualty rates rose 5%, with commercial auto achieving the highest increases, at 6%.

Property, general liability, employment practices liability and directors’ and officers’ cover were up 5%.

“The market is steady right now,” Mr Kerr said. “There were no big surprises in July 1 treaty renewals, and even the impact of Superstorm Sandy seems to have been forgotten by most property insurers.”