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Workers’ Comp. Insurance Rates Drop for Fourth Consecutive Year – State of Delaware News

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NEWS FEED
Workers’ Comp. Insurance Rates Drop for Fourth Consecutive YearDate Posted: October 27, 2020
October 27, 2020: COVID-19 BriefingDate Posted: October 26, 2020
State of Delaware Announces Early Childhood Education UpdatesDate Posted: October 26, 2020
DOJ secures Manafort and Gates-connected entity dissolutionsDate Posted: October 26, 2020
Governor Carney, DPH, DEMA Announce Community COVID-19 Testing SitesDate Posted: October 26, 2020
U.S. Coast Guard, DNREC Recover 55 Tons of Oiled DebrisDate Posted: October 26, 2020
Governor Carney Announces Compassionate Champion Award RecipientsDate Posted: October 23, 2020
Attorney General Jennings’ statement on Purdue Pharma plea agreementDate Posted: October 23, 2020
Revenue Announces Decrease in HSCA RateDate Posted: October 23, 2020
Weekly COVID-19 Update – October 23, 2020: New Daily Cases, Hospitalizations Remain Elevated; Deaths IncreaseDate Posted: October 23, 2020
Public Comment Open, Transcript and Presentation Available on Proposed Plastic Bag Ban RegulationsDate Posted: October 23, 2020
Oil Spill Cleanup of Delaware Bay Coastline Intensifies Today With Additional Resources DeployedDate Posted: October 23, 2020
Deadline for Second Round of TIIF Grant Application ApproachingDate Posted: October 22, 2020
Trout Stocked in White Clay Creek for Fall FishingDate Posted: October 22, 2020
Unified Command, Incident Command Post Established for Oil Cleanup Efforts on Delaware ShoreDate Posted: October 21, 2020
COVID Alert DE Surpasses 50,000 Downloads of AppDate Posted: October 20, 2020
Governor Carney Announces Health Care Relief Fund Date Posted: October 20, 2020
DNREC Continues Working to Assess and Clean Up Oil Spill in Delaware Bay and Southern BeachesDate Posted: October 20, 2020
Victrola Museum’s virtual Halloween program on Oct. 30, 2020Date Posted: October 20, 2020
October 20, 2020: COVID-19 BriefingDate Posted: October 20, 2020
DNREC Emergency Response Working to Control Oil Spill That Washed Ashore at Broadkill BeachDate Posted: October 19, 2020
Deadline Extended until October 25 for Governor’s Outstanding Volunteer Service AwardsDate Posted: October 19, 2020
Delaware Announces Grant Program for Contract Poultry Growers Impacted by COVID-19Date Posted: October 19, 2020
Governor Carney Authorizes Delaware National Guard Cybersecurity Squadron to Support 2020 ElectionDate Posted: October 16, 2020
Weekly COVID-19 Update Oct. 16, 2020: New Daily Cases, Hospitalizations Remain Elevated; Deaths Continue to IncreaseDate Posted: October 16, 2020
DSHA Celebrates Grand Opening of Splash Laundromat, Presents DDD Rebate CheckDate Posted: October 16, 2020
Governor Carney Announces Expansion of DE Relief Small Business Program to $150MDate Posted: October 15, 2020
GACEC Newsletter Features Middletown TeenagerDate Posted: October 15, 2020
State Auditor Kathy McGuiness and Insurance Commissioner Trinidad Navarro Partner for a Fraud Town HallDate Posted: October 14, 2020
“Civil War Band of Brothers” virtual program from The Old State House on Oct. 22, 2020Date Posted: October 14, 2020
Beebe Healthcare Partners with Lewes Public Library, Delaware Libraries to Support Dolly Parton’s Imagination LibraryDate Posted: October 14, 2020
Delaware Waterfowl and Trout Stamp Art Winners AnnouncedDate Posted: October 14, 2020
Red Clay’s Kimberly Stock named 2021 Delaware Teacher of the YearDate Posted: October 13, 2020
Overdose Medication Distribution Planned For Smyrna WednesdayDate Posted: October 13, 2020
Gov. Carney: Delawareans for Educational Opportunity, DE NAACP Agreement Makes Significant Investment in DE SchoolsDate Posted: October 12, 2020
Update to Lower and Higher Authority Appeals DeadlinesDate Posted: October 12, 2020
October 13, 2020: COVID-19 BriefingDate Posted: October 12, 2020
Delaware Cancer Mortality Rates Decrease Between 2002-2006 & 2012-2016; Improvements Among Specific Races, EthnicitiesDate Posted: October 12, 2020
Learn about the History of Disability  in the Delaware Disability History and Awareness MonthDate Posted: October 12, 2020
Kent/Sussex 911 restored for AT&T customersDate Posted: October 11, 2020
AT&T 911 cell outage in Kent & Sussex CountiesDate Posted: October 11, 2020
Nominations Open for Governor’s Volunteer Awards; Deadline is Oct. 18Date Posted: October 10, 2020
Weekly Update Oct. 9: New Daily COVID-19 Cases Remain Updated in DelawareDate Posted: October 9, 2020
Office of Highway Safety Launches Operation Crash Reduction & “New” ArriveAliveDE.comDate Posted: October 8, 2020
Laurel Woman Charged With Animal CrueltyDate Posted: October 8, 2020
Delaware Division of the Arts Welcomes Public Input on Strategic PlanDate Posted: October 8, 2020
Smokey visits St. Anne’s School for Fire Prevention WeekDate Posted: October 7, 2020
Delawareans Have More Options When Disposing of Unwanted MedicationsDate Posted: October 6, 2020
Dover man indicted on two felonies after flashing gun at political rallyDate Posted: October 6, 2020
NC City Police Department Earns State AccreditationDate Posted: October 6, 2020
October is Delaware Disability History and Awareness MonthDate Posted: October 6, 2020
October 6, 2020: COVID-19 BriefingDate Posted: October 6, 2020
FEMA Mitigation Grants Application Period OpenDate Posted: October 5, 2020
DOJ secures Cohen LLC revocationsDate Posted: October 5, 2020
First round of DE Relief Grants helping 741 businesses with $25.7 million in fundsDate Posted: October 5, 2020
DPH Releases Halloween Guidance for Delaware Communities, FamiliesDate Posted: October 2, 2020
Weekly COVID-19 Update: New Daily Cases Remain Elevated this Week; Deaths, Hospitalizations Also IncreaseDate Posted: October 2, 2020
Governor Carney Formally Extends State of Emergency to Continue Fighting COVID-19Date Posted: October 2, 2020
Former Wilmington officer sentenced to one year of probation for Official MisconductDate Posted: October 2, 2020
State of Delaware Announces School Testing LocationsDate Posted: October 2, 2020
Video Explores Genetic Background of Eight White and Three Black People Who Lived in 1600s DelawareDate Posted: October 2, 2020
Flags to be lowered Sunday for National Fallen Firefighters Memorial DayDate Posted: October 2, 2020
COVID Alert DE App Expands Partnership to New York, New JerseyDate Posted: October 1, 2020
Extension Of The Delaware Contractor Registration ActDate Posted: October 1, 2020
DelDOT Calls Attention to Employee Injuries, High Number of Overall FatalitiesDate Posted: October 1, 2020
Emergency Sirens To Be Tested TuesdayDate Posted: October 1, 2020
Delaware Child Psychiatry Access Program Looks to Remove Barriers, Empower Primary Care ProvidersDate Posted: October 1, 2020
Nature, Science, and Fun Featured in Outdoor Delaware Magazine – Now OnlineDate Posted: October 1, 2020
Governor Carney, 11 Governors Release Joint Statement on Threats to American DemocracyDate Posted: September 30, 2020
[VIDEO] Governor Carney Receives Pandemic Resurgence Advisory Committee ReportDate Posted: September 30, 2020
Delaware Gets Approval to Extend Pandemic-EBT Benefits to Feed Children During COVID-19 EmergencyDate Posted: September 30, 2020
Attorney General Jennings Announces Multistate Settlement Over 2014 Anthem Data BreachDate Posted: September 30, 2020
Delaware Integrates Prescription Monitoring Program Into Its Electronic Health Record SystemDate Posted: September 30, 2020
Join DTI For Cyber Security Awareness Month EventsDate Posted: September 30, 2020
Dental Coverage for Low-Income Adults in Delaware Begins Oct. 1Date Posted: September 30, 2020
Additional Delaware Hunting Seasons Open in OctoberDate Posted: September 30, 2020
Investor Protection Unit Joins CFTC to Stop Nationwide Precious Metals IRA, Bullion Coin SchemeDate Posted: September 29, 2020
DPH Partners With Health Care and Community Partners to Launch Fight Flu DE — Enhanced Flu Vaccination CampaignDate Posted: September 29, 2020
OAW Announces Arrest in Camden Animal Cruelty CaseDate Posted: September 29, 2020
September 29, 2020: COVID-19 BriefingDate Posted: September 29, 2020
DuPont Nature Center Closing for WinterDate Posted: September 29, 2020
Pair of Courts Side With DOJ On USPS, Vote-By-MailDate Posted: September 28, 2020
Update – Flag Lowering for Justice Ruth Bader GinsburgDate Posted: September 28, 2020
Department of Finance & The Precisionists, Inc. Launch Autism at Work ProgramDate Posted: September 28, 2020
DOL Announces the “High Extended Benefits” ProgramDate Posted: September 28, 2020
SNAP distribuirá otra ronda de los beneficios de alimentos de emergencia para su uso a partir del 30 de septiembreDate Posted: September 28, 2020
Delaware’s SNAP Program Will Issue Another Round of Emergency Food Benefits for Use Starting Sept. 30Date Posted: September 28, 2020
Grants Available for Community Water Quality ProjectsDate Posted: September 28, 2020
The Mezzanine Gallery to Exhibit Sculptures by Aaron PaskinsDate Posted: September 28, 2020
Delaware Surpasses 20,000 Positive Case of COVID-19; New Daily Cases Remain ElevatedDate Posted: September 25, 2020
Governor Carney Issues Revision to Omnibus COVID-19 OrderDate Posted: September 25, 2020
Attorney General Jennings Announces Multistate Settlement with C.R. BardDate Posted: September 25, 2020
Delaware Division of Unemployment Insurance Continues Lost Wage Assistance ProgramDate Posted: September 25, 2020
$1.5 Million EDA Grant to Delaware Innovation Space to Launch Hard Science Startup AcceleratorDate Posted: September 24, 2020
Second Application Round for DE Relief Grants to Open October 1Date Posted: September 24, 2020
Three Delaware Schools Receive National Blue Ribbon HonorsDate Posted: September 24, 2020
Delaware Recognized for 25th Consecutive Year of Excellence in Financial ReportingDate Posted: September 24, 2020
DSHA Announces $2.8 Million Awarded to Strong Neighborhoods Projects StatewideDate Posted: September 24, 2020
Piping Plovers Nesting in Delaware Reach New High NumberDate Posted: September 24, 2020
Take a Stand Against Falls: Falls Prevention Awareness Week September 21-25, 2020Date Posted: September 23, 2020

Captive | Captive Insurance | Insurance Commissioner | Date Posted: Tuesday, October 27, 2020

Decrease and Workplace Safety Program save businesses money during unprecedented time
Insurance Commissioner Trinidad Navarro announced today that workers’ compensation insurance rates will decrease for the fourth year in a row, effective December 1, 2020. The voluntary market is seeing yet another double-digit decrease in loss costs, with an average 11.56% reduction, and residual market rates will go down an average of 8.8%.
“For four consecutive years we have been able to decrease workers’ compensation costs for businesses of all sizes. This year’s reduction will help decrease business expenses as we continue to experience the economic effects of the COVID-19 pandemic,” said Commissioner Navarro. “These lower costs can attract new companies to our state and increase employment opportunities as many organizations look to move out of major metropolitan areas.”
The Delaware Compensation Rating Bureau (DCRB) approved the lower rates after discussion with the Department of Insurance and the State’s Ratepayer Advocate. The approval process includes a review by actuaries for the parties, as well as a public hearing. It is important to note that actual savings may differ and will vary by policy. Last year’s decreases saved businesses more than $4 million in premiums.
These lower rates are just one component of several efforts shepherded by the Department to help businesses financially. More than 1,100 employers are saving even more money on their workers’ compensation premiums by participating in the department’s Workplace Safety Program. Last year’s savings was approximately $7.6 million. Eligible businesses can earn up to a 19% discount on their insurance by providing and maintaining a safe place to work.
“Now more than ever, increasing workplace safety and decreasing business overhead is so important,” said Commissioner Navarro. “Our inspectors are working extremely hard to negotiate challenges caused by COVID-19 and are doing an impressive job completing safety audits during these extraordinarily unusual circumstances. I want to commend them and our entire Workplace Safety team for their incredible work.”
Eligible businesses are notified about the program each year seven months prior to their renewal date, but late applications are being accepted as many businesses were closed when they were notified of their eligibility. Organizations interested in participating can access questionnaires online and contact safety@delaware.gov to begin the process.
Interested employers are urged to note on their questionnaires their current hours and best point of contact if these have been adjusted due to COVID-19 so inspectors can plan site visits. A physical walkthrough is still required for employers to earn a safety discount. Only benefits can be gained by participating, failure to qualify cannot be the basis for premium increases or sanctions imposed by other safety enforcement officials.
View the DCRB website
Print

Related Topics:  Commissioner Navarro, dcrb, Delaware Compensation Rating Bureau, Department of Insurance, DOI, Insurance Commissioner, Insurance Department, Trinidad Navarro, workers comp, workers compensation, Workers compensation insurance, Workplace Safety, Workplace Safety Program

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.

Captive | Captive Insurance | Insurance Commissioner | Date Posted: Tuesday, October 27, 2020

Decrease and Workplace Safety Program save businesses money during unprecedented time
Insurance Commissioner Trinidad Navarro announced today that workers’ compensation insurance rates will decrease for the fourth year in a row, effective December 1, 2020. The voluntary market is seeing yet another double-digit decrease in loss costs, with an average 11.56% reduction, and residual market rates will go down an average of 8.8%.
“For four consecutive years we have been able to decrease workers’ compensation costs for businesses of all sizes. This year’s reduction will help decrease business expenses as we continue to experience the economic effects of the COVID-19 pandemic,” said Commissioner Navarro. “These lower costs can attract new companies to our state and increase employment opportunities as many organizations look to move out of major metropolitan areas.”
The Delaware Compensation Rating Bureau (DCRB) approved the lower rates after discussion with the Department of Insurance and the State’s Ratepayer Advocate. The approval process includes a review by actuaries for the parties, as well as a public hearing. It is important to note that actual savings may differ and will vary by policy. Last year’s decreases saved businesses more than $4 million in premiums.
These lower rates are just one component of several efforts shepherded by the Department to help businesses financially. More than 1,100 employers are saving even more money on their workers’ compensation premiums by participating in the department’s Workplace Safety Program. Last year’s savings was approximately $7.6 million. Eligible businesses can earn up to a 19% discount on their insurance by providing and maintaining a safe place to work.
“Now more than ever, increasing workplace safety and decreasing business overhead is so important,” said Commissioner Navarro. “Our inspectors are working extremely hard to negotiate challenges caused by COVID-19 and are doing an impressive job completing safety audits during these extraordinarily unusual circumstances. I want to commend them and our entire Workplace Safety team for their incredible work.”
Eligible businesses are notified about the program each year seven months prior to their renewal date, but late applications are being accepted as many businesses were closed when they were notified of their eligibility. Organizations interested in participating can access questionnaires online and contact safety@delaware.gov to begin the process.
Interested employers are urged to note on their questionnaires their current hours and best point of contact if these have been adjusted due to COVID-19 so inspectors can plan site visits. A physical walkthrough is still required for employers to earn a safety discount. Only benefits can be gained by participating, failure to qualify cannot be the basis for premium increases or sanctions imposed by other safety enforcement officials.
View the DCRB website
Print

Related Topics:  Commissioner Navarro, dcrb, Delaware Compensation Rating Bureau, Department of Insurance, DOI, Insurance Commissioner, Insurance Department, Trinidad Navarro, workers comp, workers compensation, Workers compensation insurance, Workplace Safety, Workplace Safety Program

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.

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