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Classification Phraseology as of:
1/1/2018
 
Classification Code:
8850
 
Phraseology:
CHECK CASHERS — all employees — including tellers, guards, Clerical Office Employees and Outside Salespersons
Footnote:

This classification applies to each separate check cashing or money transfer location at which the fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers equal or exceed 75% of gross receipts. This classification includes Clerical Office Employees and Outside Salespersons at the same location or at separate locations.

Check cashing operations performed by retail stores where fees charged for check cashing, deferred deposit transactions, payday loans, remittances, money orders or wire transfers do not equal or exceed 75% of gross receipts shall be assigned to the applicable retail Stores Industry Group classification.

Banks shall be classified as 8808, Banks.

Credit unions shall be classified as 8801, Credit Unions.

Approved Pure Premium Rate:
To learn how approved pure premium rates are different than insurer rates, click here.
Effective DatePure Premium RateNote
1/1/2018$3.35New/Renewal
7/1/2017$3.84New/Renewal
1/1/2017$4.16New/Renewal
Prior Phraseology and Footnote:
Shown below is the previously published phraseology and footnoteEffective Date

Phraseology:
CHECK CASHERS — all employees — including tellers, guards, Clerical Office Employees and Outside Salespersons

Footnote:
This classification shall apply to each separate location at which the fees charged for check cashing, deferred deposit transactions, money orders and wire transfers equal or exceed 75% of gross receipts.

1/1/2017
New Search

The Classification Search was developed by the WCIRB for your convenience to help you identify Standard Classifications based on keywords or a classification code. However, you cannot rely solely on the Classification Search and must make an independent assessment when determining the appropriate classification(s) assignable to a risk in accordance with the USRP.