Tuesday, February 18, 2014

Delaware Lt. Gov No Fan of Rating Bureau

Delaware's Lieutenant Governor, Matt Denn, has criticized Delaware's Workers Comp Rating Bureau for treating the rate making process "as the equivalent of a rug bazaar", proposing excessive rate increases with the expectation that it will be negotiated down.

Treating Workers Comp rates as something of a political football is hardly confined to Delaware, of course. But one would hope that rating bureaus would take something more of a factual, actuarial approach to Workers Comp rates. Of course, Lt. Gov. Denn probably isn't a disinterested observer of the process. He is, of course, part of the political process. And he was speaking to his state's Bar Association, themselves not impartial observers to a considerable extent. And so it goes.

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