US electronic insurance exchange MarketScout says the commercial market is starting to turn after the composite rate rose by 2% in February.

MarketScout found all classes increasing, with commercial property and workers’ compensation rates up 3%, general liability up 2% and business interruption, commercial auto, directors’ and officers’ and professional liability rising by 1%. 

CEO Richard Kerr says rates were flat six months ago.

“Since then we have continued to see evidence of a slowly turning market, with the composite rate at 0% for October, showing a 1% increase for November through January, and now a 2% increase in February.”

Small, medium and large accounts all rose 2% on average while “jumbo” accounts managed to hold the increase to 1%.