The Hartford filed for a 6.9% homeowners rate increase in New Jersey for Property and Casualty Insurance Company of Hartford, affecting renewal policies beginning October 18, 2026. The filing impacts around 343 policyholders and approximately $370,024 in written premium.

The filing shows a much larger actuarial indication than the requested increase. The company calculated an overall indicated need of 72.1% but selected a 6.9% increase instead. Building forms showed the largest indication at 76.2%, while condo forms indicated 55.1%. Tenant forms produced a negative indication of -48.3%, though no decrease was proposed for renters business.

The actuarial memorandum points to catastrophe pressure as a major driver. For building forms, The Hartford calculated a 36.4% catastrophe loss ratio, pushing the projected total loss ratio to 87.3% before expenses. After adding loss adjustment expenses, reinsurance costs, and underwriting expenses, the final loss ratio reached 131.4%.

The filing also highlights worsening property severity trends. The company selected a 12% severity trend and 7.5% pure premium trend for building forms in New Jersey. Accident year data showed elevated property loss ratios in 2023, when trended smoothed ultimate loss ratios reached 63.8% for building forms.

Despite the requested increase, the New Jersey Department of Banking and Insurance has already issued an objection letter seeking more detail on the filing. Regulators asked The Hartford to explain the drivers behind the indicated rate need, identify which policyholders will see larger changes, discuss profitability and growth strategies, and outline the company’s broader New Jersey market strategy.