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Workers' Compensation Insurance

Class Code 5059

Iron or Steel: Erection – Frame Structures Not Over 2 Stories

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Martin Summers

Insurance Agent

Class code 5059 is used for employees that work for a company that erects iron or steel frame structures, not over two stories in height. Work in this classification may include assembling and fabrication needed at the job site, as well as raising of the structures, securing with bolts, and welding or riveting operations. Structures that qualify for work within this class code are those not considered dwellings, such as garages, barns, aircraft hangars, warehouses, gasoline filling stations, Quonset huts, lunch stands, etc. Additionally, class code 5059 also includes specialists that erect concrete structural beams or girders (made by others) and those workers that connect bar joists to steel framework. Welding may be performed as well, so long as it is incidental to work under this classification and is done in connection with iron or steel erection.

Payroll divisions that may be used in conjunction with class code 5059 include employees that perform sheet metal siding erection or interior/exterior light gauge steel frame erection. When classifying workers to this class code, it is also important to follow the extra-territorial classification guidelines for each worker to ensure that they are properly classified.

Florida Rates for Class Code 5059

2014 Rate: $36.31
2013 Rate: $42.47

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 5059, this rate change resulted in a 17% decrease from 2013 to 2014. The 2014 rate for this classification is 36.31 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 61.9% below the 2003 rate of 111.59 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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