Delaware Workers’ Compensation Insurance Rates Increase 14.6% and is retroactive to December 1, 2012

The Delaware Insurance Department has issued a notice advising the approval of a rate increase of 14.6% for the voluntary market and 19% for the residual market. This increase is less than the 43% requested by the Workers Compensation Rating Bureau. Read all about it in the release:

Commissioner Stewart Takes Action On Workers’ Compensation Insurance Rates (PDF)

I guess businesses are supposed to be grateful. The sad truth is that the fundamentals of trickle down economics have been proven not to work when it comes to wealth creation; however, it has been proven to hold true when it comes to tax increases and profit loses. That’s not the trickle down anyone wants to see or talk about though.

First the deal Congress passed on New Years Day, and now another blow at the State level. The employed are sure taking a beating this week.

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