Delaware insurance rates drop for tenth straight year
Average premiums are set to fall by nearly 4 percent starting in December, with additional savings available through a state safety program.
By Adewale Fletcher ·
Delaware businesses will see workers' compensation insurance rates fall for the tenth consecutive year. The new rates take effect on December 1, 2026.
In the voluntary market, which covers companies with no claims history, average costs are expected to drop by 3.99 percent. The residual market, serving higher-risk employers, will see a 4.11 percent reduction.
Delaware Insurance Commissioner Trinidad Navarro said it is good news when both market segments see decreases. She noted that the residual market is typically higher due to fewer providers and more dangerous working environments.
Employers can lower their premiums by up to 12 percent through the state's Workplace Safety Program. This discount applies in addition to the standard rate reductions. Navarro explained that the program makes work environments safer through regular inspections.
The program differs from federal OSHA standards. The state will not shut down businesses for violations found during inspections. However, companies lose the premium discount if inspectors identify issues.
Senate Bill 248 updated the program to allow for higher discounts. Previous changes had inadvertently reduced these savings. Businesses qualify for the discount by completing annual safety inspections and implementing recommended improvements.
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