Today’s issue of WorkCompRecap features a couple of pieces of rate news, starting with Michigan’s Department of Licensing & Regulatory Affairs’ announcement that the state’s pure premium advisory rate for workers’ comp will drop by an average of 6.5% in 2015, bringing the total decrease since 2011 to 27%. LARA noted that Michigan’s cumulative decrease is the best in the midwest, and second in the nation. Find out more by clicking here!
Also in the news today is the Delaware Department of Insurance’s announcement that it has received the DCRB’s rate filing, which indicates a decrease in both the voluntary loss cost and residual market rate for workers’ compensation insurance for 2015. That filing will now be reviewed, but if the decreases are realized, Commissioner Karen Weldin Stewart noted that it will be as a result of reforms brought about to help bring down medical costs in workers’ comp. Find out more by clicking here!