P&C rates continue to hover where they have for the past four months, remaining relatively unchanged in June, according to distribution and underwriting company MarketScout.

“We are in the insurance doldrums,” Richard Kerr, MarketScout’s CEO, said in a statement. “The absence of rate movement could be yet another signal that insurers simply are not going to participate in a price-slashing war as was done in previous market cycles.”

Rates in just one type of coverage class–Business Interruption–were down for June, at -1%. Commercial Auto posted the largest gains, at 2%. Commercial Property, Business Owners’ Policy, Workers’ Compensation, D&O and EPLI were all up 1% in June.

When broken out by industry, Habitational–the line that provides coverage for owners of condos, apartment buildings and other multi-unit dwellings–saw the largest increase, at 2%. Public Entity and Transportation rates were up 1% each, while Manufacturing, Contracting, Service and Energy remained flat.

When analyzed by account size, it pays to be small: Rates for such accounts (up to $25,000 in size) posted a 2% increase. Rates trickled down as accounts became larger: Medium accounts are up 1%, but large accounts are down 1% and jumbo accounts are down 2% in June.

For this report, MarketScout analyzed pricing surveys conducted through The National Alliance for Insurance Education and Research. Below, a summary of June 2015 rates by coverage, industry class and account size, taken from MarketScout research:

 

By Coverage Class

Commercial Property

Up 1%

Business Interruption

Down 1%

BOP

Up 1%

Inland Marine

Flat

General Liability

Flat

Umbrella/Excess

Flat

Commercial Auto

Up 2%

Workers’ Compensation

Up 1%

Professional Liability

Flat

D&O Liability

Up 1%

EPLI

Up 1%

Fiduciary

Flat

Crime

Flat

Surety

Flat

 

By Industry Class

Manufacturing

Flat

Contracting

Flat

Service

Flat

Habitational

Up 2%

Public Entity

Up 1%

Transportation

Up 1%

Energy

Flat

 

By Account Size

Small Accounts

Up 2%

Up to $25,000

 

Medium Accounts

Up 1%

$25,001 – $250,000

 

Large Accounts

Down 1%

$250,001 – $1 million

 

Jumbo Accounts

Down 2%

Over $1 million

 

Steady pricing also is evident in personal lines, where the composite rate is up 1% in June, MarketScout reports. This is the third straight month of 1% rate increases, a slight decrease when compared to the year’s first quarter rate increases of 2%.

Kerr credits the steady rates to underwriting tools, catastrophe modeling and competition. “Robust competition balances any attempts at price increases,” he says. “It seems we now have a very solid foundation in the U.S. personal lines insurance marketplace.”

When broken down by account, in June Automobile rates remained unchanged from the month previous, at 2%. However, Personal Articles rose a percentage point to 1%. Homeowners’ policies remained stable. Whereas policies under $1 million in value adjusted rates slightly from flat to 1%, policies over $1 million in value decreased a percentage point, coming in flat for June.

 

Personal Lines

Homeowners under $1,000,000 value

Up 1%

Homeowners over $1,000,000 value

Flat

Automobile

Up 2%

Personal Articles

Up 1%