AIG’s American Home Assurance Company has filed an account-specific endorsement in Connecticut guaranteeing the renewal rate for New Castle Hotels, subject to certain conditions.

The endorsement applies to New Castle Hotels LLC, a Ridgefield, Connecticut-based hotel company, and is tied to a specific commercial property policy.

Under the endorsement, if AIG renews the policy, the renewal will use the same rate as the expiring policy unless the insured’s loss ratio exceeds a specified threshold, there is a material change in reinsurance support, or there is a material change in the risk or natural catastrophe exposure. The rate would still be applied to an updated statement of locations and values.

The rate guarantee expires no later than April 30, 2027. AIG retains the right to nonrenew the policy where permitted by law.

Connecticut regulators initially asked AIG to identify the insured and policy associated with the manuscript endorsement, noting that such endorsements may not be issued to more than three insureds in the state. AIG provided the requested information, and the filing was acknowledged as exempt on August 6.