Delaware workers’ compensation insurance rates will decrease for the sixth year in a row, effective December 1, 2022. Both the voluntary market and the residual market will see rate decreases in the double digits.
The Delaware Compensation Rating Bureau (DCRB) has proposed an overall decrease to residual market rates of 16.14%, an overall decrease to voluntary market loss costs of 10.96%, and revisions to related rating values.
Insurance Commissioner Trinidad Navarro said final rates are expected to be announced in early November, following a review of the DCRB filing by independent actuaries, and a public hearing.
Last December, the voluntary market saw an average 20.02% reduction in voluntary market loss costs and a 20.10% decrease in residual market rates.
Topics Workers' Compensation Talent
Was this article valuable?
Here are more articles you may enjoy.
FBI Involved After Two Florida Injury Lawyers Go Missing From Fishing Trip 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ 
Aon Extends Employment Agreement With CEO Case 
