DELAWARE SEEKS NEW WORKERS’ COMP CLASSES

Delaware Insurance Commissioner Matt Denn has asked Delaware businesses to submit requests for classification changes for workers’ compensation. According to Denn, some business owners have said they have been grouped with industries that have higher risks resulting in higher workers’ compensation rates. He suggests that new classification groups might allow them to be rated more accurately.

His request comes as overall rates are going up. Denn recently approved increases of 8.1 percent in residual market rates and 7.1 percent in voluntary market loss costs to be effective Dec. 1, 2005.