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Workers' Compensation Insurance

Class Code 7855

Railroad Construction

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Martin Summers

Insurance Agent

Class code 7855 is used for employees that are considered contractors and that perform construction operations related to the laying, relaying, and maintenance of railroad track. Work that is commonly done includes, but is not limited to, the laying of rock, ballast on the grade, the laying or relaying of ties and track, the installation of crossover frogs and switches, the erection of switch stands and switch mechanisms, the erection of cattle guards, the placing of grade crossing planks, the removal of railroad ties, the placing of additional ballast on the right-of-way, the replacing of worn ties and rails, the cutting of weeds away from the right-of-way, the digging of small drainage ditches, the filling in of small washouts, and the repairing of fences along the right-of-way.

Work that is similar in nature, but that is performed by a section crew of a railroad would be excluded from 7855, as well as similar contract work that is not performed in connection with railroad track or railway lines. 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 7855

2014 Rate: $5.36
2013 Rate: $6.88

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 7855, this rate change resulted in a 28.4% decrease from 2013 to 2014. The 2014 rate for this classification is 5.36 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 65.5% below the 2003 rate of 19.96 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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