Next Insurance is introducing updates to its commercial property program in Montana, with changes filed on March 25, 2026 and approved for use. The updates take effect June 5, 2026 for new business and July 30, 2026 for renewals.

The filing reflects a 4.7% overall rate increase against an indicated need of 23%, pointing to a measured pricing approach rather than a full correction. The changes impact 137 policyholders and about $88,196 in written premium, generating roughly $4,105 in additional premium.

This follows a prior rate revision effective December 5, 2025, suggesting an active pricing cycle.

Beyond pricing, the filing continues Next’s shift away from ISO reliance, replacing standard manual components with proprietary rating logic. The program incorporates a wide set of variables including building characteristics, loss history, revenue, insurance scores, and internal classification and market group factors, reinforcing a data-driven underwriting approach.

The structure also reflects cross-product integration, with multi-line discounts and loyalty and stabilization factors tied to tenure, aligning with Next’s broader model across commercial lines.

Coverage remains broad, with optional endorsements across flood, water backup, and spoilage, alongside an information security endorsement covering risks such as ransomware, extortion, and data breaches, further blending property and cyber exposures within a single program.

Overall, the filing highlights a small but actively managed book in Montana, where pricing remains below indicated levels while underwriting sophistication and product scope continue to expand.