What is WC classification?
Workers’ compensation class codes identify categories of work to help insurance companies better understand their customers. These codes allow companies to categorize areas of work based on an estimated amount of risk. This allows insurance companies to accurately determine workers’ compensation coverage costs.
What are job class codes?
Class codes, also called classification codes or workers’ comp classification codes, are three- or four-digit codes that insurance companies use to estimate rates. Codes are based on the risks associated with each type of work an employee performs.
What is NCCI job class code?
Workers’ Comp Codes and NCCI Classification. A class code is a three or four digit numerical code assigned by NCCI or a State Rating Bureau such as California’s WCIRB. Class codes are assigned to differentiate between the various job duties or scope of work performed by employees.
What does a workers compensation class code mean?
A Workers Compensation Class Code is a number that represents the type of work a business is engaged in.
Where can I find workers compensation codes in Florida?
For current and authoritative Florida workers compensation codes, you will need to sign up to NCCI’s Riskworkstation. Florida is under the state jurisdiction of NCCI, and uses NCCI’s Statistical Plan for Workers Compensation and Employers Liability Insurance. Looking to maximize your Florida WC marketing efforts? Download the Florida Business List.
Is the NCCI class code the same for all states?
With states that use the NCCI workers compensation class codes, the classifications remain the generally the same for each of those states. However, some states still remain independent, or monopolistic. What is the National Council on Compensation Insurance (NCCI)?
How much does a class code lookup cost?
Workers Compensation Class Code Lookup Class Code Loss Cost AR Rate AR Min Premium Hazard Group 0005 $1.73 $4.71 $1,102.00 C 0005 $1.73 $4.71 $1,102.00 C 0008 $1.14 $3.11 $782.00 D 0008 $1.14 $3.11 $782.00 D