Delaware News

Workplace Safety Program Saves Businesses Over $9.8M in Workers’ Comp Premiums

Insurance Commissioner | Date Posted: Wednesday, August 1, 2018



Dover, DE (August 1, 2018) – Delaware Insurance Commissioner Trinidad Navarro has announced that over the past year, the Delaware Workplace Safety Program has helped over 1,500 businesses save over $9.8 million on their workers’ compensation insurance premiums. The savings are a result of the businesses’ successful completion of workplace safety inspections.

“When businesses are trying to decide where to locate, the cost of workers’ compensation is often top of mind,” stated Delaware Insurance Commissioner Trinidad Navarro. “Initiatives such as the Delaware Workplace Safety Program provide not only an opportunity for businesses to save dollars, but to incentivize and foster safe and healthy environments for employees to work and earn a living. I commend our Delaware Workplace Safety team for all of their hard work encouraging safe workplaces and saving millions of dollars for our business community.”

Eligibility for the Delaware Workplace Safety Program and the percentage of the premium credit is determined by the Delaware Compensation Rating Bureau (“DCRB”).  Each month, the DCRB sends the Department of Insurance a list of those Delaware employers who meet the requirements and have workers’ compensation insurance policies renewing in seven months.   Employers who wish to participate, must complete and submit an application at least five months before their policy renews.  To earn the discount, businesses must successfully undergo a safety inspection conducted by independent safety consultants under contract to the Department of Insurance.

Participating employers can save up to 19% on the Delaware portion of their workers’ compensation insurance premiums each year they choose to participate. Over the last five fiscal years alone, Delaware employers have saved over $45 million in workers’ compensation insurance premiums by participating in the program.

Employers who wish to inquire about participating in the Delaware Workplace Safety Program are encouraged to contact the Insurance Department at safety@delaware.gov or (302) 674-7377.

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Contact: Vince Ryan

Office: (302) 674-7303

Email: vince.ryan@delaware.gov

                                                         

Delaware Department of Insurance

http://www.insurance.delaware.gov

Dover Office: 302-674-7300

Consumer Services Division: 1-800-282-8611

Fraud Bureau: 302-674-7350

 

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Workplace Safety Program Saves Businesses Over $9.8M in Workers’ Comp Premiums

Insurance Commissioner | Date Posted: Wednesday, August 1, 2018



Dover, DE (August 1, 2018) – Delaware Insurance Commissioner Trinidad Navarro has announced that over the past year, the Delaware Workplace Safety Program has helped over 1,500 businesses save over $9.8 million on their workers’ compensation insurance premiums. The savings are a result of the businesses’ successful completion of workplace safety inspections.

“When businesses are trying to decide where to locate, the cost of workers’ compensation is often top of mind,” stated Delaware Insurance Commissioner Trinidad Navarro. “Initiatives such as the Delaware Workplace Safety Program provide not only an opportunity for businesses to save dollars, but to incentivize and foster safe and healthy environments for employees to work and earn a living. I commend our Delaware Workplace Safety team for all of their hard work encouraging safe workplaces and saving millions of dollars for our business community.”

Eligibility for the Delaware Workplace Safety Program and the percentage of the premium credit is determined by the Delaware Compensation Rating Bureau (“DCRB”).  Each month, the DCRB sends the Department of Insurance a list of those Delaware employers who meet the requirements and have workers’ compensation insurance policies renewing in seven months.   Employers who wish to participate, must complete and submit an application at least five months before their policy renews.  To earn the discount, businesses must successfully undergo a safety inspection conducted by independent safety consultants under contract to the Department of Insurance.

Participating employers can save up to 19% on the Delaware portion of their workers’ compensation insurance premiums each year they choose to participate. Over the last five fiscal years alone, Delaware employers have saved over $45 million in workers’ compensation insurance premiums by participating in the program.

Employers who wish to inquire about participating in the Delaware Workplace Safety Program are encouraged to contact the Insurance Department at safety@delaware.gov or (302) 674-7377.

###

Contact: Vince Ryan

Office: (302) 674-7303

Email: vince.ryan@delaware.gov

                                                         

Delaware Department of Insurance

http://www.insurance.delaware.gov

Dover Office: 302-674-7300

Consumer Services Division: 1-800-282-8611

Fraud Bureau: 302-674-7350

 

image_printPrint


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.