NY Workers’ Comp class code 8350 Rate Increases 38.5%

Ed WinslowNY Class Codes0 Comments

NY Workers' Comp class code 8350

NY Workers’ Comp class code 8350 Rate Increases 38.5%

NY Workers' Comp class code 8350The rate for NY Workers’ Comp class code 8350 has increased 38.5% since 2011. In general, the rates for NYS gasoline and oil sales and distribution have increased significantly in recent years.

NY Workers’ Comp class code 8350: Who Does It Apply To?

NY Workers’ Comp class code 8350 applies to insureds engaged in gasoline and oil sales and distribution. They receive various grades of refined gasoline and oil, which are pumped into storage tanks. They then distribute the product directly to retail filling stations as well as factories, apartment houses, office buildings, and private residences. NY Workers’ Comp class code 8350 is also applied to insureds who fuel oil dealers who incidentally handle and sell coal as long as this is not a substantial part of their total operations.

Oil or gasoline dealers who incidentally engage in spreading oil on roads are also included under NY Workers’ Comp class dode 8350. However, If sand or gravel is spread in conjunction with the oil, class code 5506 applies. NY Workers’ Comp class code 8350 also applies to dealers who distribute liquified petroleum gas by means other than mains or pipelines. It includes all employees of this operation, including store employees, drivers, installers, service and repairmen. In these operations, liquified petroleum gas is unloaded, stored, filled into bottled gas cylinders or tank trops and then delivered to customers. Bottled gas dealers who do not perform the filling are also included under NY Workers’ Comp class code 8350.

NY Workers’ Comp class code 8350 Rate Increases 38.5%

The rate for NY Workers’ Comp class code 8350 increased 38.5% in 2013. While it was 7.23 in 2011 and 2012, it increased to 10.01 effective 10/1/2013. This means insureds whose operations apply to NY Workers’ Comp class code 8350 will see higher Workers’ Comp premiums. Enforce Coverage can help you find the best carrier to fit your Workers’ Comp needs. Contact us today for a competitive quote.

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