new york (Bloomberg) — US commercial insurance rates fell 6.4 percent in the second quarter, accelerating their decline from the prior period, as customers demand less coverage and more carriers enter the market, an industry group said.

The decline compares with a 5.3 drop in the quarter ended March 31, the Council of Insurance Agents & Brokers said in a report posted on its website. Accounts generating more than $100,000 in commissions and fees had the biggest drop at 8.9 percent, the group said. "Carriers continue to fight aggressively for new business as capacity flows into the market," Council president Ken Crerar said.