Farmers received approval for updates to its Tennessee commercial businessowners programs covering artisan contractors, restaurants, retail, habitational, real estate, manufacturing, wholesale/distribution, and auto service and repair risks.

The filing was submitted on May 15, 2026 and approved on May 21, 2026. The changes take effect July 1, 2026 for new business and September 1, 2026 for renewals.

Overall, the filing carries a 0.6% indicated change across the program, impacting 2,100 policyholders and increasing written premium by approximately $64,000.

By company, Farmers Insurance Exchange posted a -1.2% overall rate impact, Mid-Century Insurance Company posted a 1.44% increase, and Truck Insurance Exchange posted a -0.12% change.

The actuarial support suggests Farmers’ Tennessee BOP book has contracted materially over the past several years, with earned location years declining from 4,978 in 2021 to 2,672 in 2025, while premium levels remained relatively stable. The filing also indicates the company selected a modest overall 0.6% change despite an actuarial indication that pointed to a larger decrease, suggesting Farmers is prioritizing margin preservation over aggressive rate reductions.

The filing further suggests stronger profitability in restaurant, retail/service, artisan contractor, and auto service classes, which received rate decreases generally in the 2% to 3% range, while habitational and real estate segments received increases. The dynamics could signal competitive opportunities in segments where Farmers appears to be moderating rates to improve retention or growth.