TypTap filed for a 3.3% overall rate increase for its New Jersey homeowners program, impacting 4,795 policyholders and approximately $12.9 million in written premium. The changes are proposed to take effect September 1, 2026 for both new and renewal business.

TypTap reported an indicated rate need of 7.2% but selected a lower 3.3% increase. The filing notes that the insurer reduced its Loss Cost Multiplier due to a lower expense ratio while increasing territory factors to reflect projected loss costs.

The filing also shows a significant reduction in the company’s allocated net reinsurance cost provision for the New Jersey HO3 program, declining to 17.1% of subject premium from 26.8% in the prior filing. According to the filing, the decrease contributed to a lower permissible expense ratio and supported the lower selected multiplier.

TypTap cited catastrophe exposure, modeled hurricane losses, and industry trend data from competitors including New Jersey Manufacturers Insurance Company and Selective Auto Insurance Company of New Jersey in support of the filing.

The filing also references operational changes tied to the carve out of Exzeo Group from HCI Group. TypTap described Exzeo as its affiliated property and casualty insurance technology firm and stated that revised expense selections reflect changes associated with the separation.