NY Workers Comp Rate Increase 16.3% for 5057 Iron or Steel Erection

Ed WinslowNY Class CodesLeave a Comment

workers comp for Steel Erection companies

Steel ErectionNY Workers Comp Rate Increase 16.3% for 5057 Iron or Steel Erection

What Businesses can use: Code 5057 applies to insureds that perform iron or steel. NY Workers Comp Rate Increase 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 the 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  steel work 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 main contractor or welding  contractors, are considered incidental to the main iron or steel work  and should be classified under class code 5057. NY Workers Comp rate increase code 5057 is also assigned to iron or steel work 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:

The Class 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 sometime 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 though payroll. Contact us if you are interested in exploring better alternatives for your workers comp coverage for those NY Workers Comp rate increase for 5057.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *