Small Business Workers' Comp

Workers' Compensation Codes Related to Business Professionals

Employees are grouped into classification codes based on their job duties and work functions. The National Council on Compensation Insurance (NCCI) currently utilizes nearly 800 class codes to help insurance companies and agents categorize employees for rating purposes. Insurance companies set a base manual rate for each class code in order to begin pricing a policy.

Properly classifying workers is an important part of the quote process. Mis-classified employees can cost small businesses thousands of dollars. You could end up paying too much for coverage or owing more money after an annual audit.

Class Code 8742 | Sales and Consulting

Class code 8742 is a very broad class that encompasses many industries and business segments. This code assumes that these professional may utilize a vehicle to travel from place to place for meetings and consultations. Businesses that often fall under this class code include outside sales professionals, agents, marketing firms, collection services, event planners, financial planners, manufacturing representatives and other similar sales organizations.

Class Code 8810 | Office and Clerical

professional employees working in an office will typically belong under class code 8810 when the do not use a vehicle as a regular part of their job. It is very common for a business to have some employees under the sales class and some employees under the clerical class code on a workers' comp policy. These codes apply to all businesses when no other more specific class code exists.

Class Code 8832 | Doctors' Office

This is the standard class used to quote coverage for a typical doctor's office. It also applies to therapists, medical laboratories, optometrists, dentists and outpatient surgical centers.

Class Code 8820 | Law Firms

This classification applies to all employees of a law firm including attorneys, clerical, messengers, and couriers.

Class Code 8803 | Accountants

Code 8803 is the standard national class code for most accountants and auditors. This class contemplates additional driving exposure from a standard clerical class code (8810).

Class Code 8868 | Academic Professionals

This is the standard classification used for teachers and professional staff associated with schools, colleges, and other learning institutions.

Related: Accounting, tax preparation, bookkeeping, payroll bureau, employment placement agency, recruiting firms, insurance agent, auditor, claims adjuster, title company, mortgage broker, loan officer, public relations, advertising firm, debt collection, interior decorator, wedding planner, logistics, business consulting, travel agent.