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Industry Groups

Five categories of classification codes used in ratemaking.;

The annual advisory rate filing, Appendix B-II, "Individual Classification Experience" categorizes classifications by Industry Groups. The filing indicates a percentage overall change in rate level as well as the rate level change by industry group. The groups are:

    • Manufacturing
    • Contracting
    • Office & Clerical
    • Goods & Services
    • Miscellaneous

In the Classification Codes and Statistical Codes Manual yellow pages, classifications are categorized into 37 schedules, and then by classification group numbers within schedules.

Industry Groups are different from the seven Hazard Groups (A through F). The Hazard Groups differentiate the degree of hazard from the least hazardous (group A) to the most hazardous (group F). Hazard Group values are used in Retrospective Rating and Experience Rating.

Here's a handy spreadsheet that contains a list of classification codes and their respective Industry.

 

(Note: when our system asks you for a user name and password, just click on "cancel" and the spreadsheet should open.)

Related Files

 

The material in this document has been prepared and shared for informational purposes only and should not be relied upon as legal advice on any particular situation.