Builders Mutual Insurance Company submitted a rate and rule update to its Builders Risk Program in North Carolina, proposing an average 7.2% decrease across monthly and annual reporting rates by territory. The company, domiciled in the state, is adjusting rating inputs and exception pages for its Inland Marine program.

No policyholder count or premium impact was provided, and the filing was accepted as Proper with a 60-day waiting period. The expected loss ratio for the update is 49.2%.