Industry Code: 62500
Businesses in this industry purchase, store and sell new (no salvage) steel products such as steel, plate steel, angle iron, etc. in various sizes and dimensions.
Operation Details:
These businesses will generally have shop and warehouse facilities with large yard storage capacities. Overhead cranes are required in-doors and out-doors for loading and unloading product. Companies may be involved in cutting or bending to specification, prior to shipment to customers. Sales can include delivery of the product with large deck trucks or tractor trailer units. These operations require equipment such as loaders, forklifts, cutting torches or saws, pipe cutters and threaders, brakes and shears.
All employers in this industry are members of Manufacturers’ Health and Safety Association (MHSA). Safety associations represent the interests of employers and promote workplace safety through education and other initiatives. Improved workplace safety can result in fewer claims and help lower premiums. A portion of premiums collected is allocated to the association to support these initiatives.
Underwriting Considerations:
This industry does not include any kind of salvage work. Businesses that sell new steel and scrap and salvaged steel are classified in Scrap and Salvage, industry 62700.
Although businesses may be involved in cutting and bending as specified, this industry does not include any product fabrication or assembly requiring machining, welding, bolting activities, etc.
This industry will cover the sale of new and used steel pipe used in oilfield and pipeline construction providing again that the inventory was not acquired through a salvage operation. Production tubing and other downhole pipe, sold in conjunction with significant other oilfield equipment, would be classified in industry 62303 (Oilfield Supply Store).
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2011. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Premium Rate History:
Activities:
Steel service Centres - excl. Scrap and Salvage
Steel, Sale of New and Used - Excl. Scrap and Salvage
Rate Group History:
This rate group was established in 1998 in recognition of similar cutting, bending and handling activities.
Businesses in this industry purchase, store and sell new (no salvage) steel products such as steel, plate steel, angle iron, etc. in various sizes and dimensions.
Premium Rate History:
Activities:
Steel service Centres - excl. Scrap and Salvage
Steel, Sale of New and Used - Excl. Scrap and Salvage
Operation Details:
These businesses will generally have shop and warehouse facilities with large yard storage capacities. Overhead cranes are required in-doors and out-doors for loading and unloading product. Companies may be involved in cutting or bending to specification, prior to shipment to customers. Sales can include delivery of the product with large deck trucks or tractor trailer units. These operations require equipment such as loaders, forklifts, cutting torches or saws, pipe cutters and threaders, brakes and shears.
All employers in this industry are members of Manufacturers’ Health and Safety Association (MHSA). Safety associations represent the interests of employers and promote workplace safety through education and other initiatives. Improved workplace safety can result in fewer claims and help lower premiums. A portion of premiums collected is allocated to the association to support these initiatives.
Underwriting Considerations:
This industry does not include any kind of salvage work. Businesses that sell new steel and scrap and salvaged steel are classified in Scrap and Salvage, industry 62700.
Although businesses may be involved in cutting and bending as specified, this industry does not include any product fabrication or assembly requiring machining, welding, bolting activities, etc.
This industry will cover the sale of new and used steel pipe used in oilfield and pipeline construction providing again that the inventory was not acquired through a salvage operation. Production tubing and other downhole pipe, sold in conjunction with significant other oilfield equipment, would be classified in industry 62303 (Oilfield Supply Store).
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2011. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Rate Group History:
This rate group was established in 1998 in recognition of similar cutting, bending and handling activities.