If you think that your company’s workers’ compensation expenses have substantially increased over the last few years, you’re most likely correct.
Since 2012, the median increase for California advisory rates is 27.35%. However, some codes have more than doubled in that timeframe. Below is a list of the top 10 increase codes, followed by the top 10 codes with the biggest decreases over the last 3 years.
Top 10 Increased California Work Comp Codes from 2012-2015
- 7606: Cable Television Companies – 133.50% Increase
- 3683: Speaker Manufacturer – 123.72% Increase
- 1123: Mining Underground – 106.74% Increase
- 8041: Stores Wines/Spirits Wholesale – 106.36% Increase
- 8304: Grain Elevators / Storage Warehouse – 103.84% Increase
- 1699: Rock Wool Manufacturer – 98.20% Increase
- 5506: Street/Road Construction/Paving – 90.72% Increase
- 5436: Harwood Floor Laying – 90.66% Increase
- 7227: Auto Tow / Roadside Assistance – 89.66% Increase
- 2660: Boot/Shoe Manufacturer/Repair – 87.16% Increase
Top 10 Decreased California Work Comp Codes from 2012-2015
- 8807: Newspaper/Magazine/Book Publishing – 40.00% Decrease
- 8859: Computer Programing / Web & App Development – 35.29% Decrease
- 1320: Oil/Gas Lease Operations – 34.68% Decrease
- 7421: Aircraft Operation / Personnel Transport – 28.57% Decrease
- 4240: Box Manufacturer / Rigid Paper Boxes – 24.28% Decrease
- 4297: Electronic Prepress / Graphic Design – 23.53% Decrease
- 4717: Butter Substitutes Manufacturer – 19.44% Decrease
- 7610: Radio/Television/Commercial Stations – 18.80% Decrease
- 8028: Equipment/Machinery Rental Yards – 15.71% Decrease
- 9422: Road Districts/Departments – 13.55% Decrease
To view a listing of all class codes and their increase/decrease, please click here.
For additional information on the California workers’ compensation market, click here.
To learn about alternative markets that assist companies with mitigating risk and exposure, feel free to contact us at info@biz-rc.com