Next Insurance is updating its general liability program in North Carolina with both pricing and structural changes.

The filing, submitted April 1, 2026 on a file and use basis, takes effect June 5, 2026 for new business and July 30, 2026 for renewals.

The company is introducing an 8.13% rate increase, below its indicated need of 12.7%, pointing to a more measured push toward rate adequacy. The change applies to 13,309 policyholders and about $14.9 million in written premium, translating to roughly $1.2 million in additional premium.

More notably, the update introduces structural changes to how the product is priced and managed.

Next is rolling out a tiered minimum premium model with seven levels, ranging from $100 for lower-touch risks like pet sitters to $1,000 for higher-effort classes such as contractors and roofing. The structure ties pricing more directly to servicing and underwriting costs, suggesting a sharper focus on unit economics and uneven profitability across segments, particularly in construction. “Multiple Tiers for Administrative and Underwriting cost are deemed necessary due to Next Insurance not having extensive experience in administering policies to the wide range of classes we hope to serve through this filing. We believe that certain classes will require significantly more upfront investment to solicit business – coming in the form of marketing spend, call center costs, and manual underwriter review.”

The filing also expands short-term policy pricing, allowing coverage durations as short as one day using time-based factors. This move positions Next to better serve gig and project-based risks while reinforcing flexibility compared to standard annual general liability policies.