Insurance Commissioner Announces 7.24% Rate Cut

Delaware Insurance Commissioner Trinidad Navarro on Wednesday announced that voluntary market loss costs will decrease by an average of 7.24%, effective Dec. 1. At the same time, the commissioner announced that the residual market will see a reduction of 11.18%. This marks the seventh consecutive decrease in workers’ compensation rates, the commissioner’s office said in a statement. “This year’s decrease in workers' compensation insurance rates continues the reversal of voluntary and residual market trends,” the commissioner’s office said. &ldquo...