According to the MarketScout insuranceexchange, the U.S. composite rate for all property andcasualty lines across all states was flat in March after a slightincrease of 1% in Feburary 2015. Personal insurance rates heldsteady at plus 2%.

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A softening market

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By coverage classification, general liability andumbrella/excess liability were down from up 1% in February to flator 0% in March. Commercial auto, professional liability, and EPLIwere also down 1% in February as compared to March.

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Industry classifications all remained the same as in February,except for contracting and transportation, which were up 1% inMarch as compared to up 2% in February. Habitational—coverage forowners of condos, apartment buildings and other multi-unitdwellings—was flat or up 0% in March as compared to up 1% inFebruary.

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According to Richard Kerr, CEO of MarketScout, the downwardadjustment in rates may be an indicator of what's to come for thenext six months.

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Here are the March 2015 composite raw numbers fromMarketScout:

By Coverage Class

Commercial Property

Up 1%

Business Interruption

Up 0%

BOP

Up 1%

Inland Marine

Up 0%

General Liability

Up 0%

Umbrella/Excess

Up 0%

Commercial Auto

Up 1%

Workers’ Compensation

Up 0%

Professional Liability

Up 1%

D&O Liability

Up 1%

EPLI

Up 1%

Fiduciary

Up 0%

Crime

Up 0%

Surety

Up 0%

By Account Size

Small Accounts

Up 1%

Up to $25,000

Medium Accounts

Up 1%

$25,001 – $250,000

Large Accounts

Up 0%

$250,001 – $1 million

Jumbo Accounts

Up 0%

Over $1 million

By Industry Class

Manufacturing

Up 0%

Contracting

Up 1%

Service

Up 1%

Habitational

Up 0%

Public Entity

Up 1%

Transportation

Up 1%

Energy

Up 0%

Keep reading to learn more about the rates in the U.S. personallines market.

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Personal insurance on a computer monitor
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(Photo: Shutterstock)

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Personal insurance rates steady

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The composite rate for personal insurance products purchased inthe U.S. was up 2% in the first quarter of 2015. The March ratesmatched January and February with each month holding steady at plus2%.

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By lines of coverage, insureds purchasinghomeowners coverage paid an average of 2% more in March 2015as compared to March 2014. Automobile owners also paid an averageadditional 2% of premium. Buyers of personal articles floaters paida premium that averaged 1% higher than at the same time last year.

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Following is a summary of the March 2015 personal linesrates:

Personal Lines

Homeowners under $1,000,000 value

Up 2%

Homeowners over $1,000,000 value

Up 2%

Automobile

Up 2%

Personal Articles

Up 1%

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Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].