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SIC Codes For Employers More Frequently Overcharged Premiums


SIC Codes For Possibly Overcharged Employers

I have been asked many times which employers seem to be overcharged more than others – by SIC Codes, State, Size, Insurance Carrier, Type of Premium Audit, etc.

Graphic of Index Finger Pointing Index SIC Codes Dollar Sign

After looking back through the premium audit reviews that we perform for employers, I have been able to find no certain companies, states, sizes of employers, insurance carriers, type of premium audit, type of policy, or anything else that would exemplify an overcharged employer. Employers that experience premium overcharges cover the spectrum of employer types.

The premium auditor and the premium audit process are more subjective processes than objective. If they were objective processes, I could easily statistically forecast which type of employers or Workers Comp insurance situation would indicate a high degree of likelihood of premium overcharges. Premium auditors register their opinions on a premium audit. It is not stamped in stone.

Most of the time when we find overcharges is actually when the employers call us and have a gut feeling that something is wrong. In my speeches/presentations, I always point out more than once that employers know when something is wrong. It is your business as no one knows it better than you do – no consultant, tax advisor, and so forth.

If you feel there is something wrong with your Workers Compensation insurance program and are not sure what to do next, please feel free to search this blog for help. There are almost 275 posts on how to save on Workers Comp. If you need further information, please click on the Contact Us tab.

Update – Even as of 2018, no conclusions can be drawn to show that certain company types are overcharged workers compensation premiums.   This conclusion holds even when examining employers or employer groups by their respective SIC codes.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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