Branch Insurance Exchange filed for a 20.4% overall rate increase for its Michigan private passenger auto program, reflecting a 29.1% indicated need based on recent loss experience.

The filing, submitted on December 31, 2025, affects 973 policyholders and applies to approximately $1.27 million in written premium, generating an estimated $209,163 in additional premium. Individual policy impacts range from a 1.4% decrease to a 56.5% increase.

Branch attributed the increase to deteriorating underwriting results, citing a 105.3% loss ratio in Michigan from 2022 through 2024 and rising claim severity across key coverages including bodily injury, property damage, personal injury protection, and uninsured/underinsured motorist.

A key change in the filing is the introduction of a Vehicle Verified Annual Mileage factor, which will use mileage data provided by Carfax. The rating factors were developed using countrywide (excluding Texas) capped incurred losses and ALAE from January 2023 through December 2024 across bodily injury, property damage, collision, and comprehensive coverages. Vehicles without verified mileage data were excluded from the analysis, and results were credibility weighted, with the complement set to no change.

The filing is subject to prior approval and remains under detailed regulatory review, with regulators requesting additional actuarial support and clarification on several assumptions.