GEICO has filed to launch a new voluntary private passenger auto insurance product in New Mexico, marking a strategic shift in how it underwrites and prices coverage in the state. The filing was submitted on June 18, 2025, and introduces new rates, rules, and rating factors under GEICO Marine Insurance Company (GB), GEICO Casualty Company (GC), and GEICO Secure Insurance Company (GS). Existing customers will continue to be insured through legacy GEICO entities such as GEICO General, GEICO Indemnity, and GEICO Advantage.

Key elements:

• Vehicle Rated Location Factors: GEICO developed updated location-based rating groups at the ZIP code level, using credibility-weighted loss ratio relativities derived from internal data. Where data was sparse, GEICO used complements based on post-pandemic frequency trends from across its national book.

• Monthly Trend Factor: A new rating factor has been introduced to capture monthly shifts in cost trends. Initially set at 1.0, any future updates will require actuarial support and regulatory approval.

• Symbol and Tier Adjustments: Adjustments were made to vehicle rating symbols, especially for models like Kia and Hyundai, which have experienced increased theft losses. These changes mirror updates previously made in affiliated companies under SERFF filing GECC-133985623, which is tied to ISO rule guidance.

• Stability for Existing Customers: While all new business will flow through GB, GC, and GS, existing policies will remain with their current GEICO company, ensuring no disruption for renewal customers.

This restructuring allows GEICO to segment its new business from its renewal portfolio while modernizing its pricing framework.