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Workers' Compensation Insurance

Class Code 3040

Iron or Steel Works – Ornamental

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Martin Summers

Insurance Agent

Class code 3040 is used for employees that work within a shop setting, making ornamental iron or steel works products, including drivers. Locations that meet the qualification of this class code will be shops that fabricate or assemble ornamental products, made of steel or iron, such as ornamental brass, bronze or iron railings, balconies, fire escapes, staircases, shutters, window frames, jig frames, window gratings, grill pieces, heavy metal doors (having a gauge of 11 or less), or other products considered non-structural in nature. In addition, the manufacture of aircraft landing mats by a welding process would also be included. Employees under class code 3030 may engage in a variety of jobs, including, but not limited to, laying out of pieces, marking, cutting, drilling, sawing, punching, riveting, bolting, welding, and assembling.

Exclusions to this classification would be any employee that uses blast furnace or convertor operations, casting of steel, or rolling mills. Operations that perform construction related work or manufacturing of machinery using the finished products are also excluded and should be separately classified. Similar operations dealing with metal works, such as structural iron or steel products or decorative steel sculptures, are also to be rated separately.

Florida Rates for Class Code 3040

2014 Rate: $8.61
2013 Rate: $8.97

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 3040, this rate change resulted in a 4.2% decrease from 2013 to 2014. The 2014 rate for this classification is 8.61 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 69.4% below the 2003 rate of 29.34 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.

Other Related Class Codes

  • 3030 for iron or steel works – structural
  • 3041 for iron or steel shop – decorative or artistic
  • 3507 for construction or agricultural machinery manufacturing

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