Delaware Approves Amended Workers’ Compensation Rate Filing

October 13, 2016

Delaware Insurance Commissioner Karen Weldin Stewart approved the Delaware Compensation Rating Bureau (DCRB)’s workers’ compensation amended rate filing, which recommends no changes in the overall levels of residual market rates and voluntary market loss costs for 2017.

“I hope this is the beginning of a period of rate stabilization in the workers’ compensation market,” Commissioner Stewart said in a press release issued by the Delaware Department of Insurance.

The amended changes differ from initial proposed average increases in residual market rates and voluntary market loss costs in the original filing. The amendments resulted from discussions between the Department of Insurance, the Ratepayer Advocate and the DCRB, according to the filing.

The Commissioner’s independent actuaries and the state’s Ratepayer Advocate examined the DCRB’s original filing and agreed on the amended rates approved by the Commissioner.

Source: Delaware Department of Insurance

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