Workers’ Compensation Insurance Rate to Decrease in December

At Silverman, McDonald, & Friedman, we serve those struggling to collect compensation after filing a workers’ compensation claim. We work with injured clients who live in and around Wilmington, Seaford, and Newark. Please contact us for help with your workers’ compensation claim.

The Delaware Workers’ Compensation rate will decrease at the end of this calendar year. On October 17^th, an agreement was reached between advocating parties: the watchdog group Ratepayer Advocate, the Delaware Compensation Rating Bureau (DCRB), and Insurance Commissioner Trinidad Navarro’s staff. This means employers who purchase workers’ compensation insurance will pay less in premiums.

As of December 1, 2017, rates will decrease significantly for the third time in a decade. Delaware employers will see a -5.73 percent drop for the residual workers’ compensation insurance market, and the voluntary market will realize a -3 percent decrease.

Additionally, if employers choose to enroll in the Delaware Workplace Safety program, they can qualify for an additional discount on premiums, in some cases up to 19 percent.

Advocates of injured workers hope this will have a positive impact on employees in Delaware. Potentially, if businesses pay less in workers’ compensation premiums, they may be able to hire more employees and keep more jobs in Delaware. Higher insurance rates contribute to higher production costs; keeping costs down can be beneficial to the job market. It also may mean insurance companies may be less likely to fight back on claims if they are not taking in as much revenue in premiums.

How does workers’ compensation insurance impact me?

Almost every business in the private sector is required to carry workers’ compensation insurance. It allows employers to cover injured workers’ expenses if the worker gets hurt at work.

In Delaware, an employee who has suffered a workplace injury should immediately seek medical attention. Time is of the essence as unattended injuries can exacerbate and get worse. After you have been taken care of physically, you should immediately work with your supervisor to ensure an accurate report is filed and a workers’ compensation claim is pursued.  They are responsible for working with their insurance company to make sure your expenses are paid.

Unfortunately, even though workers’ compensation costs are going down for employers, the insurance companies themselves still might unjustly deny or delay a claim. You may need to seek legal assistance in those instances.

The law firm of Silverman, McDonald, & Friedman knows how life-changing a workplace injury can be, and we are here to help. We proudly serve all of Delaware, including workers in Seaford, Wilmington, and Newark. We seek justice and recovered damages for avoidable injuries. We offer no obligation, no cost consultations at our office locations. Please call 302-888-2900 or fill out our contact form now to talk with someone about your case today.