Delaware Workers’ Compensation Insurance Rates Cut (again!)
Business owners will take all of the good news they can get these days. This certainly qualifies.
Delaware Insurance Commissioner Matthew Denn recently announced that Delaware businesses will see a second round workers’ compensation insurance rates reductions in 2008.
“This rate cut will save millions of dollars for Delaware employers at a time when they could certainly use it,” Commissioner Denn said. “The dramatic lowering of workers’ comp rates that has resulted both from reform legislation and from increased scrutiny by the Department of Insurance is one of the real achievements of my time as Insurance Commissioner.”
According the Insurance Commissioner’s Office, the rate reductions totaling 45% Will Be In Effect By End of 2009. This means that Delaware employers should begin to see the impact of this latest rate cut order as their workers’ comp policies come up for renewal.