The results for the first full year of the Florida Marine Contractors code, 2007 are now available and they show that there were 138 insured’s in the state that were wholly or in part using this code.
These 128 insured’s generated a little over $23 million in 6006F payroll which averages around $168,000 in payroll per insured (not including related clerical, sales or other codes).
These accounts generated 81 claims, that equates an average two out of three insured’s having a claim. The average claim was $47,354.
This class was new for 2006, so still has some way to go before fully developed and clearly the current state of the economy is such that the payroll in the class has surely plummeted since the heady days of 2007! It will be interesting to see how these results develop as the years flow.
Data provided courtesy of NCCI. For more details please visit www.NCCI.com