The Workers’ Compensation Insurance Rating Bureau (WCIRB) has just released the 2014 filings and there are some changes that may impact your business. Effective with your 2014 renewal, the following hourly wage thresholds have been increased. These changes could directly affect your overall premium cost so please review the table below for the potential impact to your company.
| Classification Code | Description | 2014 Wage Threshold | 2013 Wage Threshold |
|---|---|---|---|
| 5183/5187 | Plumbing / Refrigeration Equipment | $26.00 | $24.00 |
| 5190/5140 | Electrical Wiring | $30.00 | $28.00 |
| 5484/5485 | Plastering/Stucco Work | $27.00 | $25.00 |
| 5538/5542 | Sheet Metal Work | $27.00 | $25.00 |
| 6218/6220 | Grading/Excavation | $30.00 | $26.00 |
| 6307/6308 | Sewer Construction | $30.00 | $26.00 |
| 6315/6316 | Water/Gas Mains | $30.00 | $26.00 |
Please feel free to give your broker a call should you wish to discuss these changes and their impact to you in greater detail.