Liberty Mutual filed for an 8.5% overall rate increase for its pet insurance program in Maryland, impacting approximately 610 policyholders and about $309,000 in written premium. The filing is scheduled to take effect on July 2, 2026 for new business and September 15, 2026 for renewals.

The filing includes adjustments to base rates, updates to pet age curves, and the introduction of a $2 monthly installment fee for policyholders paying premiums monthly. Annual pay customers would not be charged the fee.

Liberty Mutual said the proposed changes are supported by a 29.3% indicated rate need derived from countrywide experience data covering July 2022 through June 2025.

The filing shows increasing age-related factors for older dogs across multiple breed categories. For example, the proposed factor for a purebred giant dog at age 10 would rise from 2.66 to 2.971, while a mixed breed dog age 15 would increase from 4.457 to 5.904.

Liberty Mutual is also increasing illness coverage base rates. Annual illness coverage for dogs would rise from $593.99 to $653.39, while cat illness coverage would increase from $298.12 to $327.93. Accident coverage rates would remain unchanged.

According to the actuarial memorandum, the company reported a 69.2% weighted average loss and LAE ratio across its countrywide pet insurance business, with a selected profit provision of 15%.