Tuesday, November 9, 2010

FLORIDA LONGSHORE RATES (again)

OK, change time again, effective January 1st 2011, the FLORIDA rate are changing yet again...

The Longshore load increased slightly from 1.19 to 1.23 for the "surcharged" rate group (surcharged classes are the typically DRY rate groups that have no specific Longshore code . . . carpenters, electricians etc. are classic examples). However, State rates on average went up 7.8%. Through some complex math that means the average Longshore rate for these "surcharged" classes will go up 7.94%. This will vary by class code.

The Natural Longshore codes (those that have a specific F code applicable) have also changed - here are some examples

 

July 2010

Jan 2011

Change

6824F Boat Building

11.73

10.44

-11.06

6872F Ship Repair                 

22.19

20.70

-6.7%

6006F Marine Contractors

12.06

13.35

+10.7%

7327F Stevedoring Containerized

19.34

23.01

+19.0%

These new rates apply only for risks that are new or renewing after January 1st 2010.

Clearly quite a mixed bag of rates… a 30% swing from the highest increase to the lowest reduction.

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