Delaware Insurance Commissioner Trinidad Navarro has announced that there will be a decrease in workers’ compensation insurance rates, effective December 1, 2017.
“This insurance rate decrease has a direct impact on Delaware’s employers, enabling them to lower their costs and hopefully employ more Delawareans,” stated Commissioner Navarro in a press release issued by the Delaware Department of Insurance.
The Delaware Compensation Rating Bureau (DCRB) workers’ compensation rate decrease was approved Tuesday, October 17, after its review by the Commissioner’s independent actuaries and the state’s Ratepayer Advocate examination of the DCRB’s original filing.
The decrease is -5.73% for the residual market and a -3% for the voluntary market. The decrease was slightly greater than the original DCRB filing made back in August.
Source: Delaware Department of Insurance