Outgoing Delaware Insurance Commissioner orders more workers comp rate cuts

Matthew P.Image via WikipediaMatt Denn, the outgoing Delaware Insurance Commissioner, soon to be Lieutenant Governor, has ordered up additional cuts to the Delaware workers compensation rating structure. According to the insurance department's website, "The latest order by Commissioner Denn requires that the state’s workers’ compensation insurance companies discount average premiums by 6 percent each year in 2008, 2009, and 2010, and by 5 percent in 2011." Based upon their information, with these rate cuts and previous cuts already put into place since November of 2007, the total decrease in rates will add up to 45%. This is certainly good news for the Delaware business owner, especially in these lean economic times.
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