Workers' Compensation Insurance

Class Code 8855

Banks & Trust Co. - All Employees

Author Information

Martin Summers

Insurance Agent

Class code 8855 is used for employees that work for a traditional or commercial bank and trust company, internet bank, credit union, or other financial institution whose primary business is in the lending, exchanging, receiving, and safeguarding of money. This classification is all inclusive and includes such positions as bank managers, loan officers, tellers, miscellaneous clerical workers, salespersons, security personnel, attendants (both armed and unarmed), ushers, maintenance people, and drivers. While most banks listed under this class code will have a physical location that employees will work at and that customers may visit, those working for online banks are also included.

Similar operations that are excluded from class code 8855 include check cashing stores, insurance companies, brokerage and financial consulting companies, credit card companies, and collection agencies.

Florida Rates for Class Code 8855

2014 Rate: $0.22
2013 Rate: $0.26

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 8855, this rate change resulted in a 18.2% decrease from 2013 to 2014. The 2014 rate for this classification is 0.22 dollars for every 100 dollars of remuneration.

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

  • 8856 for check cashing stores
  • 8723 for insurance companies

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