Delaware Insurance Commissioner Trinidad Navarro on Monday announced workers compensation insurance rates will decrease for the eighth year in a row, effective Dec. 1.
The voluntary market is expected to decrease average loss costs by 8.4%, and the residual market will see an average rate reduction of 9.21%, according to a statement.
This year’s decrease in workers compensation insurance rates continues the reversal of voluntary and residual market trends. This is the third year of this trend, “which indicates substantial improvement in coverage affordability and employee safety,” the commissioner said.
