Atlantic Specialty Insurance Company, part of Intact, has submitted a Maryland filing for a Shepherd commercial general liability program targeting construction, energy and other businesses associated with physical facilities.
The filing would establish the program on Atlantic Specialty paper. The insurer said the same program had previously received Maryland approval through another underwriting company.
The proposed rating plan uses ISO rules and loss costs with a loss cost multiplier of 1.696. Eligible operations include the development, construction, installation, ownership, operation and maintenance of infrastructure, structures, products and facilities.
Maryland regulators raised objections on November 6, one day after submission. The department suspended its review over a table containing rating-factor ranges, saying the insurer must either replace the ranges with single factors or provide objective criteria determining which factor applies to each policyholder. Schedule rating is exempt from that restriction.
In a separate objection, regulators requested missing underwriting guidelines and warned that the omission could affect the effective date. Responses are due November 20 for the rating issue and November 23 for the underwriting guidelines.
The filing remains pending, with effectiveness requested upon approval.
