AmTrust is updating its BOP program in South Dakota, introducing a new Risk Assessment Band (RAB) framework, revised loss cost multipliers, and changes to liability pricing and minimum premiums.
The filing was submitted March 30, 2026, and approved the next day, with an effective date of September 1, 2026 for both new and renewal business.
At the core of the update is the introduction of 250 Risk Assessment Bands, which assign property and liability risks to pricing tiers based on underwriting characteristics. These bands replace prior intra-company pricing variation and are paired with updated loss cost multipliers across the participating carriers.
The filing also revises liquor liability and hired and non-owned auto rates, introduces a minimum premium for liability coverage, and adjusts rating rules across multiple endorsements.
From a pricing standpoint, the changes reflect a significant correction:
- Indicated rate change: 88.2%
- Selected overall rate impact: 75.4%
- Policyholders affected: 26
- Written premium impact: ~$96K increase
Rate impacts vary widely by company and risk, with some policies seeing increases exceeding 300%, highlighting the shift toward more segmented, risk-based pricing.
The filing reflects a broader push by AmTrust to refine rate adequacy and align pricing with underlying risk characteristics, particularly in smaller commercial segments where credibility is limited and variability is high.