Delaware commissioner announces 9.1% loss cost decrease

Delaware Insurance Commissioner Trinidad Navarro on Thursday announced a ninth consecutive voluntary market loss cost reduction.

Loss costs will decrease by an average of 11.6% on Dec. 1. The average residual market rate will go down by 9.1%.

Mr. Navarro said in a statement that businesses in the state used to pay some of the highest workers compensation premiums in the country. Now, costs are coming down as a result of policy changes and employers reducing risks by creating safer workplaces.

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