NY Workers Compensation Rate 7219, Trucking Gets 13% Rate Hike

Ed WinslowNY Class CodesLeave a Comment

Class Code 7219 Trucking -NOC Truckers  classified under 7219 get a 13% rate increase on their NY State Workers Comp policies this year. Definition-Applied to Trucking companies that haul general merchandise under contract for others. Who Can Use it-In NY State,  Class Code 7219 is used by long and short haul truckers that transport products, merchandise, automobiles, freight and aggregate … Read More

NY Work Comp Rates 5040 Steel or Iron Jumps 18.3%

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NY Class Code  – 5040 Erectors of Iron or Steel Frame Structures Definition: NY Workers Comp Code 5040 is applied to insureds engaged in the erection of iron or steel frame structures including assembly or fabrication at a job site.  Further, this Code applies to the raising and securing of structural members for buildings in excess of two stories high.  Certain … Read More

NYS Workers Comp Board Criticism or Crit Letter

Ed WinslowWorkers Comp TipsLeave a Comment

The NYCIRB or New York Compensation Insurance Rating Board is a division of the NY Workers Comp Board.  Their main function is to make sure carriers and insureds follow the Workers Comp Regulations, determine business classification,  provide statistical data, calculate and maintain experience modifications. Many employers in NY State have received a CRIT or criticism letter from the board. In fact 878 … Read More

NY Glass Merchants Workers Comp Rates Code 4130 Gets Minor Increase

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Call for detailed explanation between Code 4130 Glass Merchant and Code 5462 Glaziers 212-947-4298 NY Class Code –   4130 GLASS MERCHANT Definition: NY Workers Comp Code 4130  applies to the daily operations of receiving, storing and selling of glass.  Products such as window glass, plate glass, safety glass for automobiles, mirrors and other types of glass. Who Can Use It: This Class Code applies to employees located … Read More

NY Work Comp Code 5462 Glaziers Increases 34.5%

Ed WinslowNY Class CodesLeave a Comment

5462 GLAZIER—AWAY FROM SHOP & DRIVERS Definition: Glaziers Rate Code 5462 applies to glass merchants employees engaged in the delivery and installation of plate glass windows, storefronts  replacement of glass or mirrors away from glass merchant shop. Pricing: Code 5462 Glazier – Away from Shop & Drivers has seen a steep increase this year of 34.5% Who’s Writing this Coverage: Most … Read More

NY Workers Comp Rates For Restaurants Class Code 9071

Ed WinslowNY Class CodesLeave a Comment

9071 Applies to full-service restaurants, buffet-type establishments, banquet halls, cafes, diners, and other food establishments that provide wait service. All other States use 9079 however NY State Workers Comp Board uses 9071 for Full Service Restaurant and 9072 for Fast Food establishments workers comp coverage. The rate is the same for the class although they are different codes. This classification … Read More

New York Contractors Workers Comp Audit for Class Code 5645

Ed WinslowNY Class CodesLeave a Comment

Summary New York Audit Preparation I sat in on an audit  with a  Contractor client of mine with Class Code 5645 Carpentry- detached one-or two-family dwellings; 5190 Electrical Wiring within Buildings and 5445 Sheet rock installation-within buildings & drivers. This Contractor usually shuttered at the thought of his annual NY State Workers Comp Audit. NY Work Comp Law requires each  insured to … Read More

NYC Work Comp Rates for Class Code 8021 Meat, Fish, Poultry Wholesale

Ed WinslowNY Class CodesLeave a Comment

Definition-Code 8021 is used on NY Workers Compensation policies for Meat, fish or poultry dealers involved in the wholesale distribution of fresh and cured meat, fish or poultry. Some of these dealers perfom raw preparation such as cutting the meat, fish or poultry into steaks, chops, roasts, fillets or poultry parts for sale to stores, restaurants, supermarkets and other retail markets. Who Can Use it- Code 8021 … Read More

New York Workers Comp Class Code 5022 – Masonry Rates

Ed WinslowNY Class CodesLeave a Comment

New York Workers Comp-Class Code 5022. Definition-Class Code 5022 Masonry NOC- applies to Contractors engaged in masonry work  unless the job description is otherwise classified in the NCCI or Scopes manual. Who can use it?- Contractors who perform  masonry work in residential, commercial or  industrial structures. Code 5022 also applies to trade contractors that construct  fireplaces,  residential chimney construction ( 2 stories or less) installation of interior partitions of … Read More

NY Workers Compensation Self-Insured Members Benefit

Ed WinslowUpdatesLeave a Comment

Governor Cuomo’s recently enacted NYS Budget provides $200 million in NYS Assessment relief for former NY workers comp self insured trust members. While members of insolvent trusts remain joint and several liable for the underfunded claims of their particular trusts, their NYS Workers Comp Assessment charges will be cut considerably.  Self – Insured members of solvent and inactive trusts will also benefit from the Governors budget … Read More

NYS Worker Comp Insurance Rating System

Ed WinslowCostsLeave a Comment

The 2008 NYS Worker Compensation reform brought about significant changes in the way carriers determine NYS Workers Comp rates. In 2008 NY State Workers Comp Board went to a loss cost rating system. A  loss cost rating system allows carriers to add a surcharge or LCM (loss cost multiplier) to the State recommended “Base Rate” for each class code. Therefore each carrier … Read More

NY Workers Comp New – Majestic Insurance Downgraded by A.M. Best

Ed WinslowUpdatesLeave a Comment

Majestic Capital, Ltd (MAJC) announced A.M. Best has downgraded the financial status of Majestic Insurance Company from B+(Good) to B (Fair).  This news comes on the heels that Bayside Capital has terminated its’ agreement to purchase Majestic Capital for 7.8 million. Sources at Majestic Insurance confirm that the carrier will pull out of  New York – New Jersey workers compensation markets.  Policy … Read More