A Delaware Insurance Department unit’s hearing on a proposal calling for a sharp increase in workers compensation premiums is slated for 10 a.m. on Dec. 20th at the Carvel State Office Building in downtown Wilmington.
The bureau that represents insurance plans for injured workers is seeking a 40 percent rate hike, citing higher claims costs. A double-digit rate increase was approved earlier by the department.
Employers have warned about layoffs and companies leaving the state if the increase is approved in its present form.
Business groups and the Markell administration successfully sought a delay in the hearing earlier this year, citing its impact on the economy. Some resistance to an extension was noted, since increases could become retroactive, putting an additional burden on employers.
The deadline for comments is approaching. Comments may be taken in writing or may be presented orally at the Hearing. Written comments must be received no later than Thursday, Dec. 13, by 4:30 p.m., and should be addressed to the attention of Rhonda West, Regulatory Specialist, Delaware Department of Insurance, 841 Silver Lake Boulevard, Dover, DE 19904.
Also, those intending to provide oral comments at the hearing must notify Rhonda West at 302.674.7379 or Rhonda.West@state.de.us, no later than 4:30 p.m., December 13.
