Delaware Workers’ Compensation
In an economy where you are used to hearing about insurance rate hikes and increasing expenses, believe it or not, Delaware workers’ compensation insurance rates are being reduced. The Delaware Compensation Rating Bureau (DCRB) had appealed two orders of former Insurance Commissioner Denn’s from late 2008 to further reduce workers’ compensation rates. However, on July 24th, the Chancery Court of Delaware upheld the orders to further reduce workers’ compensation rates due to health care cost control measures brought about by Senate Bill 1 of the 144th Delaware General Assembly.
Delaware businesses should see their workers’ compensation insurance rates decrease by 6% in 2009, 6% in 2010, and 5% in 2011. If you do not see a decrease in your rates, call the Delaware Insurance Commissioner at (302) 674-7300.
If you have any questions or would like more information, please contact:
Mary Erickson, CPA