More than workers’ comp rates to change Dec. 1
The Delaware Compensation Rating Bureau (DCRB) this week announced Insurance Commissioner Trinidad Navarro’s approval of three filings. The filings, which impact new and renewal policies effective Dec. 1, 2017 or later, call for the following:
- Establishment and use of the new mandatory endorsement Notification of Change of Ownership (Circular No. 939)
- Revisions of the auditable weekly and annual payrolls (Circular No. 940)
- Approval of revised U.S. Longshore & Harbor Workers’ “F-Class” rates, loss costs and related rating values (Circular No. 941), specifically overall decreases of -0.43 percent in residual market rates and -3.66 percent for the voluntary market loss costs
These changes correspond with overall workers’ compensation rate decreases. As previously reported in Agent Headlines, Commissioner Navarro approved average decreases of -5.73 percent in the residual market and -3.00 for the voluntary market effective Dec. 1.