Construction Dual Wage Threshold Changes

| posted in Blog

For some construction classes, the Rating Bureau sets wage thresholds for which different rates apply due to significant differences claims and claims costs rates for workers who earn less and more than the threshold. Typically higher wage workers in these classes have fewer claims and less costly claims compared to their counterparts who are paid less than the threshold. The Rating Bureau updates the threshold when it notes changes in these costs. • Code 5190/5140 (Electrical wiring –within buildings): Threshold increases to $32 per hour from $30 per hour. • Code 5201(1)/5205(1) (Concrete or Cement Work – pouring or finishing…
Read More