What Businesses can use: Rate Update Click Here
Code 5057 applies to insureds that perform iron or steel. Connecticut, New Jersey, Pennsylvania, NY Workers Comp Rates for 5057 is for contractors who primarily perform groundwork where no structural operations are involved. NY Workers Comp class code 5057 applies to raising supporting beams and trusses on walls of masonry or concrete construction where such beams do that are not part of the steel structure. NY Workers Comp Rate Increase for businesses that put up the steel or iron beams usually part of the frame of a building which also consists of masonry products such as brick or poured concrete. NY Workers Comp rate increase also for those companies that set up iron or steel tanks that rest on the ground, typical of those found in the petroleum industry.
It also includes the erection of cylindrical tanks not resting on steel supporting framework—the type common to industrial plants and fuel and oil dealers. NY Workers Comp Rate increase for code 5057 is also used by contractors who engage in iron or steelwork in connection with the installation of lock gates, blast furnaces, windmills, outside railings, and coal chutes and the placement of iron or steel fronts as alterations to existing buildings. The Welding operations involved with code 5057, whether performed by the main contractor or welding contractors, are considered incidental to the main iron or steelwork and should be classified under class code 5057. NY Workers Comp rate increase code 5057 is also assigned to iron or steelwork relating to building raising or moving operations. When no separation of payroll exists.
NY Workers Comp Rate Increase code 5057 where they get in trouble with audits:
Class Code 5057 since it involves many separate operations often confuses those contractors that are assigned the class code. Primarily due to the fact that there is welding, masonry and sometimes carpentry involved. The NYSIF or New York State Fund who is the prime writer of the class will often put all the corresponding payroll into 5057; which is a $22.17 NY workers Comp rate increase up from $19.07 last year . To avoid this contractors with good payroll keeping practices can split the class codes mostly with carriers that provide pay as you go products usually through payroll. Contact us if you are interested in exploring better alternatives for your worker’s comp coverage for those NY Workers Comp rate increase for 5057.