Question 1

How much does workers' comp cost for Financial Advisor in Maine?

Accepted Answer

The current rate for Financial Advisor (Class Code 8841) in Maine is $0.19 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $95 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in Maine?

Accepted Answer

Yes, workers' compensation insurance is mandatory in Maine for all employers with at least one employee.

Question 3

How does Maine's rate compare to other states?

Accepted Answer

Maine's rate for Financial Advisor is $0.19, which is $0.01 above the national average of $0.18 (+6%).

Question 4

What does class code 8841 cover?

Accepted Answer

Covers financial advisors and planners providing investment, retirement, and wealth management advice to clients.

State	Rate per $100	Difference
Maine (current)	$0.19	—
Indiana	$0.13	-0.06
Texas	$0.14	-0.05
Utah	$0.14	-0.05
Virginia	$0.14	-0.05
Arkansas	$0.15	-0.04

Workers' Comp Rate for Financial Advisor in Maine (Class Code 8841)

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