Type to search

News Small Business

Department Announces 2016 Workers’ Compensation Rates

Share

Dover, Del.  – Insurance Commissioner Karen Weldin Stewart  approved the Delaware Compensation Rating Bureau (DCRB)’s workers’ compensation amended rate filing, resulting in an overall average increase of 7.09% in residual market rates and 7.20% in voluntary market loss costs.

The DCRB originally proposed overall increases of 14.92% for the residual market plan and 15.03% for the voluntary market loss costs. The commissioner’s independent actuaries and the state’s ratepayer advocate each examined DCRB’s filing and recommended increases lower than the ones requested by DCRB.

Following extensive discussions, the three parties proposed the amended rates which the Commissioner approved Tuesday.

The DCRB’s amended filing No. 1502 may be found here

Get the free DBT email newsletter  

Follow the people, companies and issues that matter most to business in Delaware.

You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *

Get the DBT Book of Lists

The definitive publication of contacts and key information from over 1,500 of Delaware's top businesses and organizations across 60 industries. 

No, thank you.

Free for a limited time! (Normally $50)

Stay updated with our free email newsletter

Keep up with the issues, companies and people that matter most to business in Delaware.

No, thank you.