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Workers' Compensation Insurance

Class Code 4432

Fountain Pen Manufacturing

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Martin Summers

Insurance Agent

Class code 4432 is used for employees that work within a facility that manufactures pens, or other similar handwriting implements that use ink or similar fluids. This would include such products as ballpoint pens, fountain pens, and pencils, whether automatic or mechanical. Typically, the operation of making these products begins with materials and parts, received from others. These may include such things as sheet metal stock, plating solutions, precious metals, pen points or nibs, plastic tubing, ink, pencil lead, hollow brass rods, polystyrene, carbide tungsten balls, butyrate or tenite granules or pellets, cardboard, polystyrene packaging film, and boxes. Some products, like gold or silver fountain pens, will require individual workmanship, while others will be made using an automatic screw machine process. In both cases, parts are cut, assembled, and then finished. Employees may be required to do plating, buffing, polishing, inspecting, and packaging procedures, to name a few.

Florida Rates for Class Code 4432

2014 Rate: $1.55
2013 Rate: $1.87

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 4432, this rate change resulted in a 20.6% decrease from 2013 to 2014. The 2014 rate for this classification is 1.55 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 55.4% below the 2003 rate of 4.19 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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