Star Insurance Company submitted a rate and rule filing in Idaho to introduce a new Contract and Commercial Surety program, with a requested effective date of April 15, 2026.

The filing adds a new rating plan for miscellaneous, commercial contract, fiduciary, and lost securities bonds. According to the filing, the program will rely on surety forms that are promulgated by statute or by the obligee, meaning Star will not use company-specific forms for the product.

The rating plan uses a mix of base rates and risk-based modifiers tied to factors such as credit quality, liability to net worth, collateral, bond form risk, duration, underwriting complexity, and a surety risk premium modification. The filing also sets a $100 minimum premium per surety bond and allows prepaid discounts of 8% to 12% for certain multi-year premiums paid in advance.

For miscellaneous and commercial contract bonds, base rates range from $4.00 to $15.00, depending on the class of business. For fiduciary and lost securities bonds, the base rate ranges from $3.60 to $5.40.

Star’s actuarial support shows a projected after-tax return on statutory surplus of 12.7%, based on a 5.0% underwriting profit before federal income tax, 28.0% commission and brokerage fees, 8.6% general expenses, 2.7% taxes, licenses, and fees, and a 55.7% permissible loss and LAE ratio.

The company is domiciled in Michigan and is part of AF Group.