Zurich is introducing updates to its middle market workers’ compensation program in Virginia, combining rate reductions with an expansion of its carve-out strategy targeting specific industries.

The filing reflects an overall rate decrease of 16.1%, impacting 251 policyholders and reducing written premium by approximately $720,000 on a $4.47 million book.

The changes take effect July 1, 2026, for both new and renewal business.

At the center of the update is an expansion of Zurich’s carve-out program, which applies preferential pricing to select segments including financial services, technology, professional services, and now life sciences. The program uses a tier modifier to reduce premiums for qualifying risks, reflecting what the company describes as more favorable loss experience in these categories.

Zurich is also lowering its terrorism rate within the carve-out segment, citing the shift toward remote and hybrid work as reducing exposure tied to traditional workplaces.

The company’s internal analysis shows significantly lower projected loss ratios for targeted industries compared to the broader workers’ compensation portfolio, supporting continued discounts and the addition of life sciences risks to the program.