Will Delaware Workers’ Compensation Rates Decrease in 2015?
Preliminary indications point to lower Workers’ Comp rates for Delaware Businesses in 2015.
The Delaware Department of Insurance is in receipt of Delaware Compensation Rating Bureau filing No. 1404, which indicates a decrease in both the voluntary loss cost and residual market rate for workers’ compensation insurance for 2015. Commissioner Karen Weldin Stewart is encouraged that DCRB’s initial indicated rates reflect a decrease. The Commissioner has hired two independent actuaries to review the filing along with the Ratepayer Advocate’s independent actuary.
Commissioner Weldin Steward credits the Delaware General Assembly for passing House Bill 373 for helping to push rates downward. Without it, she feels Delaware businesses would be “facing rate increases in the neighborhood of 26 to 30 percent.”
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