MGT is revising its Mainstreet Businessowners program in Tennessee, introducing new endorsements, rating changes, and underwriting rules that expand the insurer’s toolkit while tightening coverage in several areas. The filing, submitted on June 10, 2026, is scheduled to take effect on September 1, 2026, for both new and renewal business.
The filing carries an overall rate increase of 17.9%, although it affects just one Tennessee policyholder, translating to an estimated premium increase of $134 on $749 in written premium. The company said the changes represent a revision to its existing businessowners program rather than the launch of a new product.
Among the more notable additions are endorsements aimed at limiting exposure across multiple policies and policy periods. The new anti-stacking endorsement clarifies that if the same loss is covered by more than one policy issued by MGT or its affiliates, recovery cannot exceed the highest applicable limit available under a single policy. A separate non-cumulation endorsement reduces available limits for an occurrence that triggers claims across multiple policy periods by amounts previously paid under related policies.
MGT is also introducing exclusions tied to psychotropic, synthetic, and similar designer drugs. The endorsements exclude both property and liability coverage arising from the design, manufacture, distribution, sale, or use of such substances, including products marketed under names such as K2, Spice, and Bath Salts. The exclusions extend to business income losses and, where applicable, electronic data liability exposures.
The filing adds a blanket additional insured endorsement for parties required to be covered under written agreements, with a flat charge of $100 per additional insured. Businesses may also elect extended business income restoration periods of 18 or 24 months following a covered loss.
Other revisions affect underwriting and pricing mechanics. MGT is implementing an age-of-business factor that rewards more established businesses with lower premiums, while newly formed businesses receive modest surcharges. The company is also updating liability relativity factors, increased limits factors, and charges associated with exposures such as car washes, gas pumps, propane filling stations, and vacant land.
In addition, the filing introduces a minimum earned premium provision for contractor classes, establishes a 5% discount for policyholders who pay annual premiums in full, and updates payment plan provisions to reflect processing fees charged by third-party payment vendors.
