What Are Insurance Classification Codes?

What Are Insurance Classification Codes?

Insurance classification codes are the numeric class codes that the Workers' Compensation Insurance Rating Bureau (WCIRB) utilizes to separate the workers in industries and the type of work they perform, states the State Fund website. The classification system offers information regarding rates and rules for insurance purposes.

The Workers' Compensation Insurance Rating Bureau operates and defines the insurance classification code system following the rules outlined by the Insurance Commissioner, according to the WCIRB website. Individuals can perform a classification search through the WCIRB website by code or keyword, or by reviewing the standard classifications list by code or phraseology. The website offers additional information for each classification code, including rules and rates.