Rates for US property and casualty insurance were flat last month compared with the corresponding period last year, according to analyst MarketScout.

CEO Richard Kerr says there has been a downward trend since October, when rates were up 1.5%.

“It’s not dramatic but it is a trend,” he said. “Coastal property may experience some slight rate increases, since we are on the cusp of the wind season.

“Rates on all other exposures should continue to be quite competitive.”

Rates on small and medium accounts worth up to $US250,000 ($313,554) gained 1% last month, while jumbo accounts above $US1 million ($1.25 million) were down 2%. Large accounts of $250,000-$US1 million were flat.

Personal lines gained 1% last month, slowing slightly compared with March, when rates were 2% up on the corresponding period last year.