Pie Insurance has filed for an 11.7% rate increase on its Maryland workers’ compensation book, affecting 1,437 policyholders and approximately $7.6 million in written premium. The filing, submitted on June 18, 2026, would take effect August 1, 2026, for both new and renewal business.

Rather than changing its base loss cost multiplier (LCM), which remains at 1.73 following a January 2026 rate filing, Pie is proposing a new class-code tiering structure that assigns different LCMs to groups of occupations based on expected risk levels. The company said the change is intended to better align pricing with emerging loss experience and varying hazard profiles across industries.

The new structure introduces five tiers, ranging from a 1.384 LCM for lower-risk clerical and professional classes to a 2.249 LCM for higher-risk skilled trades and specialty operations. Classes in healthcare, social services, light construction, transportation, logistics, and construction trades would generally receive higher multipliers than office and retail occupations.

Pie said it began writing workers’ compensation business in Maryland in August 2023 and does not yet have sufficient state-specific experience to develop a traditional indicated rate change. However, the company pointed to emerging results that have been less favorable than expected, citing a cumulative incurred loss and allocated loss adjustment expense ratio of 80.3% compared to a permissible loss and LAE ratio of 64.8%.

To support the proposed class relativities, Pie relied on a geospatial smoothing analysis that combines Maryland data with experience from neighboring states, including Virginia, Washington, D.C., New York, Connecticut, New Jersey, West Virginia, and North Carolina. The company said the approach improves credibility given its limited volume in individual class codes within Maryland.