New Jersey Manufacturers is seeking a 23.3% rate increase for its ProEdge businessowners program in Maryland.

The filing indicates an overall rate need of 40.3%, reduced to 23.3% after applying a transition rule that limits renewal premium changes to 30% in either direction.

The change would generate approximately $3,596 in additional written premium across 10 policyholders, based on $15,419 in current written premium.

NJM is adopting ISO’s latest businessowners loss costs and its 2023 product update. The insurer is not changing its loss cost multiplier.

The filing also updates forms, classifications and rules and adds ISO additional insured endorsements. The proposed effective date is January 1, 2027, for new and renewal business.