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Workers' Compensation Insurance

Class Code 2386

Lace Manufacturing

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Martin Summers

Insurance Agent

Class code 2386 is used for employees that work within the lace manufacturing industry, including lace made with cotton, silk, or synthetic threads. The raw materials are generally delivered in skeins from external sources, and then wrapped into spools and bobbins, depending on their use.

Employees working under this classification may be responsible for overseeing the various harness and shuttle movements, removing lace from the loom, inspecting lace for design errors or flaws, mending lace by hand or machine, washing lace, bleaching lace, drying lace, trimming lace, and starching and ironing lace. Once the lace is a final product, employees may be required to do a final inspection and then measure, fold, and package the lace for shipping and distribution.

Florida Rates for Class Code 2386

2014 Rate: $3.16
2013 Rate: $3.40

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 2386, this rate change resulted in a 7.6% decrease from 2013 to 2014. The 2014 rate for this classification is 3.16 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 25.3% below the 2003 rate of 4.55 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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