Liberty Mutual has filed a new commercial property insurance program in New Jersey, introducing a new rating plan, underwriting framework, and participating insurers for business property risks. The filing was submitted on June 3, 2026, with a requested effective date of July 16, 2026.
The program will be written through four Liberty Mutual companies: General Insurance Company of America, First National Insurance Company of America, Safeco Insurance Company of America, and Wausau Underwriters Insurance Company. Liberty Mutual stated that all new business will initially be routed to Wausau Underwriters Insurance Company, which received its New Jersey certificate of authority on May 2, 2026.
According to the filing, the program is being introduced as a new offering rather than a revision of an existing book of business, meaning there is no in-force policyholder impact. The submission includes a new rating manual, rule manual, premium determination methodology, actuarial memorandum, billing plan updates, and supporting modeling documentation.
The rating structure incorporates a wide range of underwriting variables, including construction type, building age, sprinkler protection, roof characteristics, occupancy class, industry classification, community protection class, prior claims history, payment plan selection, affinity group status, early shopper discounts, and credit-based insurance scoring. Liberty Mutual noted that its Safeco Insurance Scoring Model 1.0F will be used to generate business owners credit-based insurance scores as part of the new rating plan.
The filing also introduces a detailed peril-based pricing framework that separately evaluates exposures such as fire, theft, non-weather water damage, hurricane, tornado, straight-line wind, hail, winter storm, and reinsurance costs. Additional factors include territory, deductibles, coverage limits, optional endorsements, and individual risk premium modifications.
The submission was filed under SERFF tracking number LBRC-134972783 and is currently assigned for review by the New Jersey Department of Banking and Insurance.
