NU Online News Service, Sept. 6, 3:30 p.m.EDT

For the second consecutive month, overall property and casualtyrates came in at minus-2 percent, indicating rates are continuingto firm, says MarketScout.

The Dallas-based electronic insurance exchange released itsAugust market barometer, saying average rates were unchanged fromlast month as most coverage classes were either flat or up for themonth.

“Property rates are continuing to firm,” says Richard Kerr,chief executive officer of MarketScout in a statement. “In July2011, the composite rate for all property placed in the U.S.adjusted from minus-2 percent to flat. This includes new andrenewal business on both cat and non-cat exposed property.”

Rates for both commercial property and business interruptionwere flat in August, compared to minus-2 percent in July.Employment practices liability insurance exhibited more firming inAugust going from flat to plus-2 percent.

Crime lost some ground, from plus-1 percent to flat.

By account size, small accounts edged up during the month, fromplus-1 percent to plus-2 percent. Medium accounts also edged upfrom minus-2 percent last month to minus-1 percent.

Both large accounts ($250,000- $1 million in premium) and jumboaccounts (over $1 million) were unchanged on a month to month basisat minus-3 percent and minus-4 percent respectively.

“The larger the account, the more aggressive the underwritingcommunity,” says Kerr. “Big prestige name accounts have alwaysenjoyed preferred pricing. Brokers, agents and underwriterscontinue to be aggressive in their efforts to place marquee nameson their client list.”