By Frank Gerace 3:54am, December 8, 2012 - Updated 5:04am, December 8, 2012Fourteen Republican state Representatives are calling on the state insurance department to nix a pending increase in worker's compensation insurance rates.
A letter signed by the lawmakers was submitted as part of official testimony the department is gathering as it considers a request from the Delaware Compensation Rating Bureau for a 38 point 3-percent increase in premiums charged to regular market customers buying worker's comp insurance.
The DCRB also asked that the rate for customers in the residual market be hiked by 43 point 5 percent.
The Representatives call the hikes "exorbitant" and say independent analyses of the requests confirm that.
A public hearing on the requested increases is set for December 20th at 10 AM at the Carvel State Office Building in Wilmington.
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