Commissioner Announces 3.99% Loss Cost Reduction

The Delaware Department of Insurance announced an average 3.99% loss cost reduction, effective Dec. 1. The department also announced that the residual market will see an average rate reduction of 4.11%. The department said this is the 10th consecutive rate reduction. It also noted that the new rates will take effect the same day as Senate Bill 248. The bill updates the Workplace Safety Program to ensure that employers can access full premium savings. The department said earlier legislative changes inadvertently led to lower discounts, and SB 248 creates the ability for companies t...