Delaware Insurance Commissioner Denn orders up another rate cut

Image via Wikipedia Delaware Insurance Commissioner Matt Denn today announced another cut for workers compensation rates to be effective October 1st. This rate cut is an average 11.57 % decrease in premiums, covering the wide range of occupations covered under the code. When combined with the rate cuts previously undertaken last fall, the State of Delaware insurance website, www.delawareinsurance.gov, is touting the almost 30% decrease in workers compensation rates since last year. While work still remains to be done on the cost containment/managed care portion of recent workers compensation legislation, this is a good sign for employers that the days of runaway workers compensation costs/premiums might indeed be a thing of the past.