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Slow and steady wins the race, as the composite rate for commercial insurance coverage in the US rose an average of 1.5% in September.

Personal insurance is becoming more competitive due to the limited number of major catastrophes this year," according to MarketScout.

There's a soft market on the horizon, according to MarketScout.

Commercial-lines rates were up 1.5% in July, while personal-lines rate increased by 3%.

In March, MarketScouts Market Barometer showed that rate increases picked up steam ever so slightly to plus-3%, but in April, a multitude of factors caused rates to moderate again to plus-2%.

Commercial- and personal-lines rates both increaed by 3% in March, up from 2% in February.

By coverage class, commercial property placements were up to plus 3% from plus 2% the prior month, and business owners policies (BOP) were up to plus 4% from plus 3% in January.

Workers compensation and commercial auto risks saw the steepest rate increases in January at +4% compared to the same month in 2013but the commercial-lines market overall continued its moderating trend, according to MarketScout.