Delaware Insurance Commissioner Trinidad Navarro announced that the state’s Workplace Safety Program has helped 1,500 employers in the state save over $9.8 million in workers comp premiums over the past year. The businesses successfully completed workplace safety inspections.

The Delaware Compensation Rating Bureau (DRCB) determines eligibility for the program and the percentage of the premium credit for employers. Every month the DRCB sends the Department of Insurance a list of Delaware employers who have met the requirements and have comp policies renewing in seven months. If an employer wants to participate in the program they must submit their application five months prior to their policy renewal and then undergo a successful safety inspection that is conducted by independent safety consultants contracted by the DIR.

Employers who participate can save up to 19% on the Delaware part of their insurance premiums each year they participate. In the past five years employers in the state’s program saved over $45 million in worker’s comp premiums.

“When businesses are trying to decide where to locate, the cost of workers’ compensation is often top of mind,” said Navarro. “Initiatives such as the Delaware Workplace Safety Program provide not only an opportunity for businesses to save dollars, but to incentivize and foster safe and health environments for employees to work and earn a living. I commend our Delaware Workplace Safety team for all of their hard work encouraging safe workplaces and saving millions of dollars for our business community.”

Read the press release from the State of Delaware here.