Experience rating is a procedure utilizing past developed experience of a risk to forecast or predict future experience. It is a mathematical method of modifying future premiums by comparing the actual incurred loss experience of a risk to the average expected loss experience for that risk’s classification(s) during the experience period. Under experience rating, risk’s maintaining favorable loss levels in prior years receive premium reductions (credit modifications) while those with poor past loss experience are charged increased premiums (debit modifications). Experience rating is a mandatory plan applying to all risks that qualify.
The information and resources on this page are intended to provide an overview of the proposed December 1, 2024 Delaware Experience Rating Plan changes.
| Announcements | The latest news and announcements about the Delaware Experience Rating Plan. |
| Experience Rating Plan Fact Sheet | Review Experience Rating Plan comparisons and a glossary of terms for the 2024 mod worksheet. |
| Experience Rating Plan Pamphlet | Overview of the changes in the Experience Rating Plan. |
| Frequently Asked Questions (FAQ) | Common questions and answers related to the Experience Rating Plan. |
| Mod Comparison Report | Provides a comprehensive side-by-side comparison of the old and new Experience Rating Plans. (See User Guide) |
| Three-year Carrier Ratings Report | Provides a comparison of three years (2022, 2023, and 2024) of policy mods that have been re-stated based on the new Experience Rating Plan. (See User Guide) |
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Understanding Experience Rating
