Workers’ compensation rates unchanged for 2017

DOVER – Insurance Commissioner Karen Weldin Stewart today 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,” said Commissioner Stewart. “I want to thank my staff, the Ratepayer Advocate and the DCRB for their hard work to keep the rates at their current overall level. I also want to recognize the General Assembly and my fellow members of the Governor’s Workers Compensation Oversight Panel and the Workers’ Compensation Task Force, whose efforts over the past few years are now bearing fruit.”

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.

The DCRB’s amended filing No. 1603 may be found at http://www.delawareinsurance.gov/departments/safety/dcrb.shtml.