NY Workers’ Comp Class Code 3030 Rate Increases 3.7%

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NY Workers' Comp Class Code 3030

NY Workers’ Comp Class Code 3030 Rate Increases 3.7%

NY Workers' Comp Class Code 3030NY Workers’ Comp Class Code 3030: Structural Iron or Steel Fabricators – Who Does it Apply To?

NY Workers’ Comp class code 3030: Structural Iron or Steel Fabricators applies to insureds engaged in the fabricating or assembling of structural iron or steel. These structural iron or steel fabricators complete the work in a permanently located shop on products such as bars, I-beams, channels, angles, tees, plates and other large metal members of a structure. Insureds whose operations fall under NY Workers’ Comp class code 3030 mark, cut, saw, drill, punch, rivet, bolt, weld, and assemble the iron or steel pieces into finished structural products. These products are then used by others in the construction of building or bridges. NY Workers’ Comp class code 3030 does not apply to the actual construction of buildings or bridges.

NY Workers’ Comp class code 3030 is applied to insureds who manufacture iron or steel structural parts for subsequent use by others in the manufacturing of heavy machinery. Insureds who complete the manufacturing of heavy machinery using the parts are classed in separately rated code 3570. Similarly, risks engaged in the fabrication of nonstructural or ornamental iron or steel products are rated under class code 3040. NY Workers’ Comp class code 3041 applies to risks who fabricate decorative iron or steel products.

NY Workers’ Comp Class Code 3030 Rate Increases 3.7%

The rate for NY Workers’ Comp class code 3030 increased 3.7% in 2013. While it was 8.05 in 2011 & 2012, the rate for NY Workers’ Comp class code 3030 increased to 8.35 effective October 1, 2013. This increase means employers whose operations apply to NY Workers’ Comp class code 3030 will see more expensive pricing for their Workers’ Compensation policies in the 2013-2014 policy term. More information regarding the rate changes can be found here.

Call Enforce Coverage Group today at (212) 947-4298 to obtain a price quote for NY Workers’ Comp class code 3030. To view hundreds of class codes and rates, click here.

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