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Workers Compensation Proposed 40% Cost Increase

As you probably heard, there is a proposed 40% increase to Delaware Worker’s Compensation Rates being proposed by the WC Rating Bureau.

The Delaware Insurance Commissioner is holding a Public Hearing December 20, 2012 at 10am at the Carvel State Office Building, 820 North French Street, Wilmington, DE 19801.

We are in agreement with the many voices opposed to this huge increase, especially at a time when our industry is just starting to come out of the housing recession.  We have heard from the several Chambers of Commerce in Delaware, as well as other building and contracting groups.

As we prepare to attend the hearing, you also should attend and let the Insurance Department know how a 40% increase of workers compensation will hurt your business. Advanced registration to speak, or submit written comments is December 13, 2012.  Please email your thoughts to hfortunato@hbade.org.  But plan to attend a voice your opposition.

Seriously, get involved.  Taking a few hours to write a letter or attend a hearing seems to be worth the alternative – a 40% increase in your workers comp rates!

About HBA of Delaware

HBA/DE has been an integral part of the growth and economic development of the State of Delaware since 1947. HBA/DE was founded as a non-profit state affiliate of the National Association of Home Builders (NAHB) representing home builders and other businesses directly related to Delaware's Home Building Industry. Consisting of Builders, Remodelers and a group of diversified associate members, the Home Builders Association of Delaware strives to protect and preserve housing as a symbol of America. www.hbade.org

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