Commissioner Announces 9.08% Loss Cost Decrease

Delaware Insurance Commissioner Trinidad Navarro on Thursday announced a ninth consecutive voluntary market loss cost reduction. Loss costs will decrease by an average of 11.6% on Dec. 1. The average residual market rate will go down by 9.08%. Navarro said in a statement that businesses in the state used to pay some of the highest workers' compensation premiums in the country. Now, costs are coming down as a result of policy changes and employers reducing risks by creating safer workplaces. Delawarelive.com reports that observers credited House Bill 373, a 2014 measure that limited ...