DOVER, DE – Delaware Insurance Commissioner Trinidad Navarro is pleased to announce that there will be another decrease in workers’ compensation insurance rates, effective December 1, 2019.

“I am delighted to approve a decrease in workers’ compensation rates in Delaware for the third year in a row,” stated Commissioner Navarro. “These continued decreases mean significant savings for Delaware businesses both large and small and continues to be an incentive for smaller businesses to relocate to Delaware and employ more Delawareans.”

The Delaware Compensation Rating Bureau workers’ compensation rate decreases were approved on Tuesday, October 8, 2019, after review by the Department of Insurance’s (“Department”) independent actuaries and the State’s Ratepayer Advocate and a public hearing before the Honorable Joshua Martin.  The decreases are an average -12.75% for the residual market and an average of -13.29% for the voluntary market.  It is important to keep in mind that these are average changes and actual changes to a particular policy may vary depending on, among other things, class codes or insureds.

Commissioner Navarro added further, “The continued hard work of everyone involved in this process especially over the last few years continues to ensure that the process is transparent and efficient.  I am also pleased that this is the first year that all actuaries reviewing this filing agreed, not only that another significant drop in workers’ compensation rates was warranted, but that the filing as submitted to the Department needed no changes.  Lastly, I want to again acknowledge the Department’s Workplace Safety Program and its dedicated staff for their work in helping Delaware businesses save up to 19% on premiums for providing a safe working environment.”

Employers who wish to take advantage of the Delaware Workplace Safety Program are encouraged to visit its webpage at www.insurance.delaware.gov/workplacesafety, or call our office directly at (302) 674-7377.

The approved amended DCRB filing No. 1902 can be found at http://www.dcrb.com/shared/d_contents.htm.

                                                                                               ###

Contact: Tanisha L. Merced, Esq.

Deputy Insurance Commissioner

Office:    (302) 674-7300

Delaware Department of Insurance

http://www.insurance.delaware.gov

Dover Office: 302-674-7300

Consumer Services Division: 1-800-282-8611

Businesses Also Saved $12.1 Million in Workers Comp Premiums 

DOVER, DE – Insurance Commissioner Karen Weldin Stewart and the Delaware Department of Insurance announced today that its Consumer Services Division recovered $2,959,783.45 for consumers during the first nine months of 2016. Delaware employers also saved $12,126,418.00 in workers compensation premiums during the same period through the Department’s Workplace Safety Program.

The Consumer Services Division received 3,482 formal insurance coverage complaints and inquiries regarding automobile, homeowners, life and health policies between January 1 and September 30, and directly recovered $2,361,693.88 from insurers for Delaware policyholders. The Division also conducted arbitration hearings on behalf of policyholders, which netted consumers $598,089.57 in awards during the same period.

“I want to thank the staff for their vigorous advocacy on behalf of consumers,” said Commissioner Stewart. “Every day they help consumers clear up problems with health insurance companies, agents and providers. And I’m glad the Workplace Safety Program continues to benefit employers and employees.”

The Workplace Safety Program incentivizes employers to establish and maintain safe workplaces. The program provides businesses with the opportunity to earn discounts of up to 19 percent on their workers’ compensation insurance premiums by meeting certain safety requirements and agreeing to undergo periodic inspections. The $12,126,418.00 savings figure, from the Delaware Compensation Ratings Bureau, is approximate because businesses may pay their workers compensation insurance premium annually, quarterly, or by some other schedule.

For help with general insurance matters, call the Department at (302) 674-7300. Call (800) 282-8611 for Consumer Services. For more information on the Workplace Safety Program call (302) 674-7377.Go to our website at www.delawareinsurance.gov, and visit our Facebook page,  www.facebook.com/DelawareInsurance. Follow us on Twitter @Delaware_DOI.

###

DOVER, DE – 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

For more information contact Jerry Grant at 302-674-7303 or jerry.grant@delaware.gov.

###

Insurance Department Announces Workers’ Compensation Rates for 2016

DOVER, DE  – Insurance Commissioner Karen Weldin Stewart today 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 today.

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

http://www.delawareinsurance.gov/departments/safety/dcrb.shtml

###

Commissioner Stewart Posts Reports on Proposed Workers’ Compensation Rate Filings

Documents Available on New DOI Webpage

DOVER, DE – Insurance Commissioner Karen Weldin Stewart announced today that the Department of Insurance has posted three actuarial reports evaluating proposed 2016 workers’ compensation rates to the DOI website.

Milliman, Inc. and INS Consultants, Inc., two independent actuaries engaged by the Department of Insurance, and AIS Risk Consultants, a third independent actuary working for Delaware’s Ratepayer Advocate, have filed reports evaluating proposals for both residual market rates and involuntary market loss costs, as submitted by the Delaware Compensation Rating Bureau (DCRB) under Filing 1502.

The actuarial reports and all documents related to Filing 1502 are available on a new “Dockets” section of the DOI website, established by Commissioner Stewart to provide greater transparency in the workers’ compensation rate-making process. For access, go to http://www.delawareinsurance.gov/departments/documents/dockets/

Commissioner Stewart reminds the public that three public information sessions regarding Filing 1502, one in each county, have already been announced:

Tuesday, October 20, 2015, at 2:00 p.m.

Insurance Department

841 Silver Lake Blvd., Dover, DE 19904

Tuesday, October, 20, 2015, at 7:00 p.m.

Delaware Technical Community College – Owens Campus

Theater Auditorium – Arts & Science Center

21179 College Drive, Georgetown, DE 19947

Wednesday, October 21, 2015, at 6:00 p.m.

Carvel State Office Building, 2nd Floor Auditorium

820 North French Street, Wilmington, DE 19801

###

For more information:  Jerry Grant 302-674-7303

Department of Insurance: www.delawareinsurance.gov | 302-674-7300