NCCI Class Code 5403 — Workers' Comp Filed Rates by State
Carpentry NOC — Workers' Comp filed loss costs
What state regulators have approved for class 5403, captured from public state-DOI rate filings across 10 state(s).
Workers' Comp premium for NCCI class code 5403 (Carpentry NOC) is priced per $100 of payroll. The chart and table below show the filed loss costs state regulators have approved — the baseline before each carrier's loss-cost multiplier and your experience modifier. These 10 filings span 10 state(s).
| State | Carrier / bureau | Filed loss cost | Effective | Filing ref |
|---|---|---|---|---|
| AL | National Council on Compensation Insurance (NCCI) — AL filing | $1.87 per $100 payroll (advisory loss cost) | 3/2026 | Filing #AL-DOI-LC-2026 |
| CA | Workers' Compensation Insurance Rating Bureau of California (WCIRB) | $11.33 per $100 payroll (CA pure premium rate, low-wage tier) | 9/2025 | Filing #REG-2025-00007 |
| CT | National Council on Compensation Insurance (NCCI) — CT filing | $4.62 per $100 payroll (advisory loss cost) | 1/2026 | — |
| IN | Indiana Compensation Rating Bureau (ICRB) | $1.66 per $100 payroll (advisory loss cost) | 1/2025 | Filing #2024-08 |
| MA | Workers' Compensation Rating & Inspection Bureau of Massachusetts (WCRIBMA) | $4.81 per $100 payroll (MA administered manual rate) | 7/2024 | Filing #MA-WCRIBMA-2024 |
| MI | Compensation Advisory Organization of Michigan (CAOM) | $2.45 per $100 payroll (CAOM advisory pure premium) | 1/2025 | Filing #348 |
| MN | Minnesota Workers' Compensation Insurers Association (MWCIA) | $8.19 per $100 payroll (MWCIA pure premium loss cost) | 1/2026 | Filing #MWCIA-MN-2026 |
| MO | National Council on Compensation Insurance (NCCI) — MO filing | $3.26 per $100 payroll (advisory loss cost) | 1/2026 | Filing #NCCI-134646477 |
| NJ | New Jersey Compensation Rating & Inspection Bureau (NJCRIB) | $14.95 per $100 payroll (NJ administered manual rate) | 1/2026 | Filing #2510 |
| OR | National Council on Compensation Insurance (NCCI) — Oregon advisory pure premium (DCBS-approved) | $2.51 per $100 payroll (advisory pure premium) | 1/2026 | — |
| State | Bureau | Advisory loss cost | Basis | Source |
|---|---|---|---|---|
| IN | State rating bureau | 1.591 | Not stated | icrb.net |
| IN | State rating bureau | 1.66 | Not stated | icrb.net |
| NC | State rating bureau | 2.125 | Not stated | ncrb.org |
| NJ | State rating bureau | 14.946 | Not stated | njcrib.com |
Filed loss costs by state — class 5403
| State | Filed loss cost / $100 payroll | Effective | Market structure | Filing # |
|---|---|---|---|---|
| Alabama | $1.87 | Mar 2026 | Competitive private | AL-NCCI-2026-03-5403 |
| California | $11.33 | Sep 2025 | Competitive + state fund | WCIRB-CA-2025-09-5403 |
| Connecticut | $4.62 | Jan 2026 | Competitive private | CT-NCCI-2026-01-5403 |
| Indiana | $1.66 | Jan 2025 | Competitive private | IN-ICRB-2025-01-5403 |
| Massachusetts | $4.81 | Jul 2024 | Competitive private | MA-WCRIBMA-2024-07-5403 |
| Michigan | $2.45 | Jan 2025 | Competitive + state fund | MI-CAOM-2025-5403 |
| Minnesota | $8.19 | Jan 2026 | Competitive + state fund | MWCIA-MN-2026-5403 |
| Missouri | $3.26 | Jan 2026 | Competitive + state fund | NCCI-134646477-MO-5403 |
| New Jersey | $14.95 | Jan 2026 | Competitive private | NJ-NJCRIB-2026-5403 |
| Oregon | $2.51 | Jan 2026 | Competitive + state fund | OR-NCCI-2026-01-5403 |
Across the 10 states we track, filed loss costs for class 5403 range from $1.66 in Indiana to $14.95 in New Jersey — about a 9× difference. That spread reflects each state's own injury experience and whether it adopts NCCI advisory loss costs or files through an independent rating bureau such as California's WCIRB, New York's NYCIRB, or Pennsylvania's PCRB.
Nationally, Workers' Compensation carriers ran a 45.1% loss ratio, a 12% underwriting profit, and a 13% return on net worth (NAIC 2023) — the line-level economics behind the filed loss costs above. A class's filed loss cost is the regulator-approved starting point; how profitable it is for carriers to write shapes the loss-cost multipliers you actually pay. These figures come from the NAIC Report on Profitability by Line by State.
How your Workers' Comp rate is set
Your NCCI class code classifies the work your employees do by injury risk — it's the single biggest driver of your Workers' Comp base rate. The filed loss cost above is the only public, regulator-approved piece; your actual premium is:
Filed loss cost × carrier LCM × experience modifier × (payroll ÷ $100)
Most states use NCCI's loss-cost guidance; independent-bureau states (e.g., California/WCIRB, New York/NYCIRB, Pennsylvania/PCRB) and monopolistic state funds (e.g., Ohio BWC) file their own — which is why the same class code carries different filed rates by state above.
Methodology
Each loss cost is drawn from a public state-DOI rate filing (via the state's SERFF portal) or a public NCCI State Advisory Forum summary, traceable by its filing reference. Loss costs are per $100 of payroll before the carrier's loss-cost multiplier; your actual rate depends on your carrier's LCM, experience modifier, and state. No proprietary NCCI manual data is reproduced — only figures states have published in public regulatory filings. See our full sourcing policy.
Related
- Workers' Comp insurance cost — median rates, distribution, and a calculator
- NCCI class-code lookup — search every code we track
- Rate-change tracker — recent filed changes by state
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