What are the classification codes?
Class codes, also called classification codes, help insurers categorize businesses according to factors like liability, job risk, and industry. Insurance companies use different systems of class codes for different types of business insurance including general liability insurance and workers' compensation insurance.
What is a comp code?
What Are Workers' Comp Codes? Workers' comp codes are three- to four-digit codes that identify types of work. Insurance companies use these codes to help estimate risk and determine workers' compensation insurance costs.
What is NCCI class code?
OR workers comp class codes are four digit numbers assigned by The National Council on Compensation Insurance (NCCI). Oregon workers compensation classification codes contain industry standard injury rates & are used to determine the UO base premium cost.
What is the difference between WSIB Schedule 1 and Schedule 2?
What is the difference between Schedule 1 and Schedule 2 businesses? While Schedule 1 employers operate under the collective liability insurance principle, Schedule 2 employers do not. They are individually responsible for the full cost of the accident claims filed by their workers.