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Workers' Compensation Insurance

Class Code 8265

Iron or Steel Scrap Dealer

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Martin Summers

Insurance Agent

Class code 8265 is used for employees that work for an iron or steel scrap dealer, including drivers. These operations will have their primary business in collecting, handling, and selling scrap metal made from iron, steel, carbon steel, stainless steel, or other similar alloy. Job duties that employees within this classification may engage in include, but are not limited to, the collection of scrap metal from junk dealers or other sources, torch cutting for reduction purposes, compressing and bailing in presses, blast furnace operations, steel recovery processes, metal shredding using a fully automatic mill, and operating a portable press. Employees that are considered specialists may travel from yard to yard and may receive payment based on a flat fee or a percentage basis.

Florida Rates for Class Code 8265

2014 Rate: $7.73
2013 Rate: $7.85

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 8265, this rate change resulted in a 1.6% decrease from 2013 to 2014. The 2014 rate for this classification is 7.73 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 42.1% below the 2003 rate of 13.55 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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