Liberty Mutual is introducing a rate update to its Businessowners program in New Jersey, with changes set to take effect October 1, 2026 for both new and renewal business.

The filing reflects a 9.2% overall rate increase, impacting approximately 450 policyholders and about $1.09 million in written premium.

The move follows a significantly higher actuarial indication of 115.6%, suggesting a gap between indicated and selected pricing as the company balances rate adequacy with competitiveness.

The update applies to the carrier’s eCLIQ Simple BOP platform, which relies on broader commercial lines data due to limited internal experience on the product. Loss trends—running at roughly 12.2% annually—and a projected loss ratio near 95% appear to be key drivers behind the increase.

As part of the filing, the insurer is revising liability base rates, property base rates, basic rates, and rating factors under its Commercial Protector program, including updates to catastrophe-related factors such as wind and hurricane exposure.

Overall, the filing points to continued pressure on small commercial lines, with pricing adjustments being used to address rising loss costs while gradually moving toward indicated rate levels.