Delaware’s Insurance Commissioner orders an 11.57 percent cut

WILM, August 19, 2008

With this cut, Denn says, insurance rates will have dropped 30-percent in a year. He says the workers compensation rate cuts are the first resulting from the Workers Compensation Cost Control measures that were passed by the General Assembly this year.

“The eleven and a half cut that I’m announcing is a direct result of that legislation.”

The second part of these cuts come from an effort he began in 2005.

“The rate freeze in 2006 and the 17 1/2 to 22 percent cut in 2007 were the result of that effort from my office. This 30-percent cut has been a real partnership between the legislature, and the insurance commissioners office and the private sector.”

The latest across the board cut becomes effective October 1st.