Navarro Announces Ninth Consecutive Workers’ Comp Rate Decrease

Insurance Commissioner Trinidad Navarro announced today that workers' compensation insurance rates will decrease for the ninth year in a row, effective December 1. The voluntary market is expected to decrease average loss costs by 11.6%, and the residual market will see an average rate reduction of 9.08%. Residual markets are often seen as the 'last resort' of coverage due to cost, high risk, or claims history. Trends indicate meaningful movement to the more traditional voluntary market over the last several years.

The announcement follows confirmation of the Delaware Compensation Rating Bureau (DCRB) filing by independent actuaries, and a public hearing with DCRB and the State's Ratepayer Advocate. Actual savings will vary by policy.

"For nearly ten years, my administration has been able approve rate decreases that help local businesses, and can attract new companies and jobs to Delaware," said Commissioner Trinidad Navarro. "Delaware's businesses used to pay some of the highest workers' compensation premiums in the country, but bold policy changes have been successful in addressing that problem. Our businesses are also doing their part by committing to reducing risk through employee protections and creating safe work environments."

Workers' compensation insurance provides coverage when an employee is hurt on the job and can provide medical coverage as well as payments for lost wages if a person is unable to work due to their injury. Lower premiums don't change the amount of compensation an injured employee receives.

These lower rates are just one component of several department efforts to help businesses. As of year-end 2024, 932 employers were saving even more on their premiums by participating in the department's Workplace Safety Program, saving approximately $4.9M last year. Eligible businesses can earn a discount on their insurance by successfully undergoing annual safety inspections and complying with recommendations.

Businesses eligible for the Workplace Safety Program are notified each year seven months prior to their renewal date. Organizations interested in participating can access questionnaires online and contact [email protected] to begin the process. Only benefits can be gained by participating; failure to qualify cannot be the basis for premium increases or sanctions imposed by other safety officials.

View the DCRB website