US commercial insurance rates dropped 1% last month, but insurers are running out of patience, according to analyst MarketScout.

CEO Richard Kerr says insurers are willing to maintain the rate reductions of previous years, but are reluctant to cut any further.

“Insurers are getting tired of cutting rates,” he said.

Professional liability and commercial property rates were down 2%, while commercial motor was up 2%.

Rates on small or medium accounts worth up to $US250,000 ($334,860) were down 1%, while rates on large accounts worth $US250,000 to $US1 million ($1.34 million) dropped 2% and those above $US1 million fell 3%.

Meanwhile, the composite rate for personal lines was up 1%.