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Workers' Compensation Insurance

Class Code 2300

Plush Manufacturing

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Martin Summers

Insurance Agent

Class code 2300 is used for employees that work within manufacturing facilities that produce plush and/or velvet fabrics. While raw materials will be different, the process and loom design is very similar in both, making them equally acceptable to this classification. Backings of the either may include natural or artificial silks, wools, cottons, or a blend of these materials. Employees will not usually be responsible for spinning their own yarn, as it will be received already on the spool or on the cop. Silk, by contrast, will typically arrive in a skeins, and may need to be wound to spools or bobbins.

Other finishing duties that employees may be assigned that will fall within the bounds of class code 2300 include embossing, brushing, printing, coloring, shearing, and inspecting the plush or velvet before packaging and distribution.

Florida Rates for Class Code 2300

2014 Rate: $3.42
2013 Rate: $3.25

Each workers' compensation class code in Florida has a unique rate assigned to it based on the likelihood of workplace injuries for the group of employees throughout the state that are assigned to that class code. Click this link for more information about the ratemaking process. The rates used in Florida workers comp insurance were increased in 2014 by an average of 6.1% by the Florida Office of Insurance Regulation.

For class code 2300, this rate change resulted in a 5.2% increase from 2013 to 2014. The 2014 rate for this classification is 3.42 dollars for every 100 dollars of remuneration. Even with the increase in rates this year, the 2014 rate is still 65.7% below the 2003 rate of 9.47 dollars.

Despite the manual rates being set by the Florida government for workers comp class codes, there are still ways that employers can lower their overall workers compensation costs and total premium. Our insurance agents would like the opportunity to discuss these premium discounts and other cost savings measures with your business. Contact us today to receive competitive quotes for your business.

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