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Workers' Compensation Insurance

Class Code 8072

Store: Book, Record, Compact Disc - Retail

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Author Information

Martin Summers

Insurance Agent

Class code 8072 is used for employees that work in a retail store which primarily deals in books, records, compact discs, software, videos, or other media related items. Stores within this classification may also sell beverages, snacks, and other refreshment type food items, provided that they do not prepare and serve cooked food and provided that receipts for such things are incidental to the main business and sales receipts for these items do not exceed 50% of the total sales.

Because this is a retail classification, employees within the scope of 8072 must work in a location that sells to the general public and not a wholesale operation or mail order fulfillment center. Locations that are decided to be wholesale in nature, or that deal in merchandise other than media products would be excluded and should be separately classified.

Florida Rates for Class Code 8072

2014 Rate: $1.13
2013 Rate: $1.42

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 8072, this rate change resulted in a 25.7% decrease from 2013 to 2014. The 2014 rate for this classification is 1.13 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 59.9% below the 2003 rate of 3.54 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

  • 8018 for wholesale stores, NOC
  • 8017 for retail stores, NOC

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