Hiscox filed for a rate update to its Direct Professional Liability program in Idaho, seeking an overall rate increase of 3.7%.

The filing was submitted on June 17, 2026, with proposed effective dates of August 17, 2026, for new business and December 15, 2026, for renewals.

The program covers 1,169 policyholders and approximately $1.1 million in written premium.

The proposed changes are expected to generate about $40,500 in additional premium. Individual policy impacts are capped, with maximum increases of 5.2% and no decreases.

According to the filing, the indicated rate need is 12.4%, driven by a credibility-weighted loss and loss adjustment expense ratio of 64.5% compared to a permissible ratio of 57.3%. Hiscox is implementing only a portion of the indicated increase through revisions to base rates.

The filing follows a prior 4.9% rate revision that took effect in July 2024.

As part of the update, Hiscox is lowering the base rate factors used in its rating manual while adjusting the overall rate level for the Idaho book. The filing applies to the insurer’s direct professional liability product, which provides errors and omissions coverage for a range of professional service businesses.