US property and casualty insurance rates dropped an average 5% last month compared with those of a year earlier, according to electronic insurance exchange MarketScout.

The biggest drop for the year was 6% posted by general liability, in a market that was softer almost across the board. Directors’ and officers’ liability rates were the one exception – they were flat.

MarketScout says rekindled interest in the small-to-medium market among mega brokers may help prolong the soft market as they acquire independent brokers and use their muscle to cut better deals with insurers.