Commercial pricing remained flat while personal lines rates moderated slightly from +2% to +1% in April, according to the latest MarketScout pricing survey.

Commercial classes including BOPs, professional liability and D&O all decreased a percentage point between March and April, while commercial auto increased from +1% to +2%. All other lines of coverage held steady. By account size, jumbo accounts were the only commercial category to adjust average rate, from flat in March to -2% in April.

“The market continues to be trending downward over the last eight months,” says Richard Kerr, MarketScout CEO. “It’s not dramatic, but it is a trend. 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.”

Homeowners and personal articles pricing both decreased a percentage point in April, from +2% to +1% and from +1% to flat, respectively. Personal auto rates held steady at +2%.

According to Kerr, personal insurance buyers in the central U.S. are paying less than those in states that border the ocean. Although California, Washington and Oregon have limited wind exposure, they have significant quake and brush exposure, and all the other coastal states have significant wind exposure.

“Thus the higher rates,” Kerr says. “So while the composite rate is up 1%, rates in states bordering the ocean are higher—some as much as +4%, depending upon the distance to the ocean or brush, quake zones and protection class.”

Jacquelyn Connelly is IA senior editor.