MGT Insurance Company submitted a rate filing in Rhode Island to increase rates for its Businessowners Program covering nonprofit organizations, including religious and human services groups. The filing was submitted on March 6, 2026, with proposed effective dates of September 1, 2026 for both new and renewal business.

The insurer is requesting an overall 21.9% rate increase, below the 37.8% actuarially indicated change. The program currently covers 38 policyholders and about $138,732 in written premium, with the revision expected to increase premium by roughly $32,269.

The filing replaces several rating components, including property factors, liability and medical expense factors, minimum premiums, and rate capping rules. Updated factors apply to classes such as religious organizations, museums, libraries, daycare providers, theaters, food banks, and other nonprofit operations.

MGT also introduced a rate capping rule limiting individual policy changes to ±35% at renewal, designed to moderate premium swings for policyholders.

The last rate revision for the program took effect April 25, 2021, meaning this filing represents the first overall rate change for the Rhode Island book in several years.