July rates in the US commercial property and casualty sector have held steady at 4% for the third month in a row, according to insurance exchange MarketScout.

Rate increases occurred across the board, with general liability and workers’ compensation up 4% and business interruption and directors’ and officers’ liability up 3%.

“Property rates were up the most at plus 6%,” MarketScout CEO Richard Kerr said.

By industry class, public entities increased the most, at 3%, while transportation and energy moved 1%, to 5% and 4% respectively.

By account size, small and jumbo accounts gained a 1% increase over the last month, up to 5% and 2% respectively.

Rate increases for US personal lines rose 2% in July, described as “stable”.

“The market didn’t move much from June to July as the composite rate remained at plus 2%,” Mr Kerr said.

According to Merrill Lynch, it has been a strong period for US insurers “with catastrophe losses of $US9.3 billion ($8.8 billion), down from $US24.4 billion ($23.03 billion) last year, and rates and deductibles tightening as insurers take a more conservative underwriting approach”.