Insurance Commissioner Hoping Stable Rates Will Continue

Delaware Insurance Commissioner Karen Weldin Stewart on Wednesday approved the Delaware Compensation Rating Bureau’s amended rate filing, which recommends no changes in the average levels of residual and voluntary market loss costs for 2017. The average manual residual and voluntary market loss cost rates will increase 1.99% and 2.22%, respectively, however. Other than an 11.5% decrease in 2014, voluntary market loss costs have increased every year since 2011’s 12.61% hike. Other increases were 21.66% in 2012, 14% in 2013 and 7.2% in 2015. Besides a 2014 rate decrease o...