Jewelers Mutual has filed revised rates and rules for its Businessowners program in Rhode Island, seeking an overall 3.7% rate increase for both new and renewal business effective April 15, 2026.

According to the filing, the indicated rate need was 3.96%, with the company selecting a slightly lower implemented impact of 3.72%. The change affects 54 policyholders and is expected to increase written premium by approximately $15,800, based on a current Rhode Island BOP book of about $425,000.

Actuarial support shows the adjustment is driven by a combination of loss trends, catastrophe modeling, reinsurance costs, and expense provisions, with limited credibility assigned to Rhode Island-specific experience due to low claim volume. The filing also updates classification tables for jewelry manufacturing risks across regions and maintains existing program structure, including expense constants and rating methodology.

If approved, the revised rates will apply uniformly to new and renewal BOP policies written in Rhode Island beginning mid-April 2026.