Rates to Drop 10% on Dec. 1

Delaware, named one of the more expensive states for workers' compensation premiums, will soon see rates drop 10% for the voluntary market and 7.3% for the residual market, the state Department of Insurance announced. The Delaware Compensation Rating Bureau recommended a 9.9% loss-cost reduction in August, and the Insurance Department approved the slightly larger decrease on Oct. 15. The new rates will take effect Dec. 1, the department said. The rate bureau said the lowered costs were the result of a significant drop in the number of claims filed in recent years, similar to trends s...