Workers' Comp Rates for Trust Company (Class Code 8847)
Description
Covers employees of trust companies managing fiduciary accounts, estates, and trust administration.
Common Businesses
Hazard Group
A
National Avg Rate
$0.16
per $100 payroll
Most Expensive States
- New York$0.22
- Alaska$0.21
- New Jersey$0.20
Rates by State for Class Code 8847
47 jurisdictions rate this code per $100 of payroll. North Dakota, Ohio, Washington and Wyoming are not included. Each is a monopolistic state fund that sets premium on its own basis rather than on an NCCI class-code rate per $100 of payroll, so there is no comparable figure to average or rank.
| State | Rate per $100 | vs. National Avg | Effective |
|---|---|---|---|
| Indiana | $0.12 | -0.04 | 2026-01-01 |
| Texas | $0.12 | -0.04 | 2026-07-01 |
| Virginia | $0.12 | -0.04 | 2026-04-01 |
| Arkansas | $0.13 | -0.03 | 2026-07-01 |
| Colorado | $0.13 | -0.03 | 2026-01-01 |
| Utah | $0.13 | -0.03 | 2026-02-01 |
| Arizona | $0.14 | -0.02 | 2026-01-01 |
| Idaho | $0.14 | -0.02 | 2026-01-01 |
| Kansas | $0.14 | -0.02 | 2026-01-01 |
| Nebraska | $0.14 | -0.02 | 2026-02-01 |
| North Carolina | $0.14 | -0.02 | 2026-04-01 |
| South Dakota | $0.14 | -0.02 | 2026-07-01 |
| Tennessee | $0.14 | -0.02 | 2026-03-01 |
| Iowa | $0.15 | -0.01 | 2026-01-01 |
| Kentucky | $0.15 | -0.01 | 2026-01-01 |
| Mississippi | $0.15 | -0.01 | 2026-03-01 |
| Missouri | $0.15 | -0.01 | 2026-01-01 |
| New Mexico | $0.15 | -0.01 | 2026-01-01 |
| South Carolina | $0.15 | -0.01 | 2026-04-01 |
| Alabama | $0.16 | +0.00 | 2026-03-01 |
| Georgia | $0.16 | +0.00 | 2026-03-01 |
| Maryland | $0.16 | +0.00 | 2026-01-01 |
| Minnesota | $0.16 | +0.00 | 2026-01-01 |
| Nevada | $0.16 | +0.00 | 2026-03-01 |
| New Hampshire | $0.16 | +0.00 | 2026-01-01 |
| Oregon | $0.16 | +0.00 | 2026-01-01 |
| West Virginia | $0.16 | +0.00 | 2026-01-01 |
| Delaware | $0.17 | +0.01 | 2025-12-01 |
| Florida | $0.17 | +0.01 | 2026-01-01 |
| Maine | $0.17 | +0.01 | 2025-04-01 |
| Michigan | $0.17 | +0.01 | 2026-01-01 |
| Montana | $0.17 | +0.01 | 2026-07-01 |
| Rhode Island | $0.17 | +0.01 | 2026-08-01 |
| Vermont | $0.17 | +0.01 | 2026-04-01 |
| Wisconsin | $0.17 | +0.01 | 2025-10-01 |
| Connecticut | $0.18 | +0.02 | 2026-01-01 |
| District of Columbia | $0.18 | +0.02 | 2026-01-01 |
| Illinois | $0.18 | +0.02 | 2026-01-01 |
| Massachusetts | $0.18 | +0.02 | 2024-07-01 |
| Oklahoma | $0.18 | +0.02 | 2026-01-01 |
| Hawaii | $0.19 | +0.03 | 2026-01-01 |
| Louisiana | $0.19 | +0.03 | 2026-05-01 |
| Pennsylvania | $0.19 | +0.03 | 2026-04-01 |
| California | $0.20 | +0.04 | 2025-09-01 |
| New Jersey | $0.20 | +0.04 | 2026-01-01 |
| Alaska | $0.21 | +0.05 | 2026-01-01 |
| New York | $0.22 | +0.06 | 2025-10-01 |
The rates above are manual rates — step 1 of the eight-step rating-bureau premium algorithm. See what your carrier applies after that, or estimate premium for code 8847 with your own payroll and experience mod.
Related Class Codes
8810
Clerical Office Employees
Hazard Group: A
8742
Outside Sales Personnel
Hazard Group: B
8820
Attorney - All Employees & Clerical
Hazard Group: A
8803
Auditing, Accounting or Management Consulting
Hazard Group: A
8871
Clerical Telecommuter Employees
Hazard Group: B
Frequently Asked Questions
- What is workers' comp class code 8847?
- Class code 8847 (Trust Company) is an NCCI workers' compensation classification in the Office & Professional industry group. Covers employees of trust companies managing fiduciary accounts, estates, and trust administration. Hazard group: A.
- How much is workers' comp insurance for class code 8847?
- The national average rate for class code 8847 is $0.16 per $100 of payroll, across the 47 jurisdictions rated on that basis. Cheapest states: Indiana ($0.12), Texas ($0.12), Virginia ($0.12). Most expensive: New York ($0.22), Alaska ($0.21), New Jersey ($0.20). Actual premium depends on your state, payroll, experience modifier, and carrier. North Dakota, Ohio, Washington and Wyoming are not included. Each is a monopolistic state fund that sets premium on its own basis rather than on an NCCI class-code rate per $100 of payroll, so there is no comparable figure to average or rank.
- What businesses use workers' comp class code 8847?
- Class code 8847 typically applies to Trust companies, Estate management firms, Fiduciary services, Trust administration offices.