The composite rate for US property and casualty insurance “held steady” at 4% for June, according to insurance exchange MarketScout.

“We did record rate moderation for workers’ compensation accounts from 5% in May to 4% in June,” CEO Richard Kerr said.

He described the workers’ compensation market as “bumpy”, as insurers try to settle in at appropriate pricing.

“Accounts with high hazard exposures are being assessed considerable rate increases of 7% to 15%,” said Mr Kerr.

Commercial property rates are up 5%.

Composite rates for all US personal lines showed an increase of 2%, compared to June last year.

Mr Kerr says insurers continue to “aggressively” price homeowners’ exposures in non-catastrophe areas.

Those in catastrophe areas are being assessed rate increases of 7% to 12%, slightly up from earlier in the year and in line with the current wind season.