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Delaware sets hearings on proposed 38% workers compensation rate hike


The Delaware Department of Insurance is set to hold a series of public hearings in the next few weeks to discuss a proposed 38.27% hike in the state’s workers compensation rates.

The Delaware Compensation Rating Bureau Inc. requested the increase in voluntary market rates in August, according to the bureau's website. The bureau also is seeking a 43.53% increase in residual market workers comp rates for next year.

The bureau’s rate filing, posted on the bureau’s website, shows steeply rising medical severity and medical loss ratios in 2010.

Public hearings to discuss the rate filing are scheduled for Wednesday and Oct. 30, as well as another scheduled for Nov. 20, according to the insurance department.

The advisory rates would take effect Dec. 1 if approved by the insurance department.