After four months of stagnation, US commercial rates increased 1% last month, while a composite index of personal lines rates gained 2%, according to analyst MarketScout.

CEO Richard Kerr says the commercial property market often tightens as the wind season approaches, “but we also noted slight increases on other lines of coverage”.

General liability, umbrella and professional liability rates, which were flat in June, increased 1%, while business interruption grew 1% last month following a 1% drop.

Property cover gained 1-2%.

Mr Kerr says personal lines insurers raised rates across all home values last month, with policies worth less than $US1 million ($1.36 million) up 2%, compared with a 1% increase in June. People with homes worth more than $US1 million saw a 1% increase, while rates for motor cover gained 2% and personal articles cover was up 1%.