Learn about Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance. Insurance companies use NAICS codes to classify your industry and calculate your premiums. See all the six digit codes that fall under this primary NAICS class code for business insurance underwriting and cost purposes.
Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance
What’s the best way to describe your company’s business operations? Are you involved in the Professional, Scientific, and Technical Services industry?
If so, then your business classification falls under Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance. Insurance companies use NAICS codes to identify customers by industry code.
The NAICS sector code is a six digit number: the first two digits designate the largest business sector, the third digit designates the subsector, the fourth digit designates the industry group, and the fifth digit designates particular industries. The last digit designates national industries.
Sector 54 – Professional, Scientific, and Technical Services – NAICS Manual
The Professional, Scientific, and Technical Services sector comprises establishments that specialize in performing professional, scientific, and technical activities for others. These activities require a high degree of expertise and training. The establishments in this sector specialize according to expertise and provide these services to clients in a variety of industries and, in some cases, to households.
Activities performed include: legal advice and representation; accounting, bookkeeping, and payroll services; architectural, engineering, and specialized design services; computer services; consulting services; research services; advertising services; photographic services; translation and interpretation services; veterinary services; and other professional, scientific, and technical services.
This sector excludes establishments primarily engaged in providing a range of day-to-day office administrative services, such as financial planning, billing and recordkeeping, personnel supply, and physical distribution and logistics. These establishments are classified in Sector 56, Administrative and Support and Waste Management and Remediation Services.
How NAICS Classifications Effects Your Commercial Insurance Cost
But how does your Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance classification affect your premiums and insurance cost? Insurance companies selling commercial insurance use NAICS codes in many ways – to analyze and classify the businesses they insure, or choose not insure. Some small business NAICS code classifications can result in you paying higher premiums for your business insurance. It is important that your business is classified properly.
Industry codes help insurers with several analytical processes involving marketing, underwriting, exclusions, loss control, forms, pricing and other operations. Let’s look at some of the the NAICS codes under your classification.
NAICS Structure
Following is a list of all the codes and titles. If the title is linked you can drill down for more information:
- 541110 Offices of Lawyers
- 541120 Offices of Notaries
- 541191 Title Abstract and Settlement Offices
- 541199 All Other Legal Services
- 541211 Offices of Certified Public Accountants
- 541213 Tax Preparation Services
- 541214 Payroll Services
- 541219 Other Accounting Services
- 541310 Architectural Services
- 541320 Landscape Architectural Services
- 541330 Engineering Services
- 541340 Drafting Services
- 541350 Building Inspection Services
- 541360 Geophysical Surveying and Mapping Services
- 541370 Surveying and Mapping (except Geophysical) Services
- 541380 Testing Laboratories
- 541410 Interior Design Services
- 541420 Industrial Design Services
- 541430 Graphic Design Services
- 541490 Other Specialized Design Services
- 541511 Custom Computer Programming Services
- 541512 Computer Systems Design Services
- 541513 Computer Facilities Management Services
- 541519 Other Computer Related Services
- 541611 Administrative Management and General Management Consulting Services
- 541612 Human Resources Consulting Services
- 541613 Marketing Consulting Services
- 541614 Process, Physical Distribution, and Logistics Consulting Services
- 541618 Other Management Consulting Services
- 541620 Environmental Consulting Services
- 541690 Other Scientific and Technical Consulting Services
- 541713 Research and Development in Nanotechnology
- 541714 Research and Development in Biotechnology (except Nanobiotechnology)
- 541715 Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)
- 541720 Research and Development in the Social Sciences and Humanities
- 541810 Advertising Agencies
- 541820 Public Relations Agencies
- 541830 Media Buying Agencies
- 541840 Media Representatives
- 541850 Outdoor Advertising
- 541860 Direct Mail Advertising
- 541870 Advertising Material Distribution Services
- 541890 Other Services Related to Advertising
- 541910 Marketing Research and Public Opinion Polling
- 541921 Photography Studios, Portrait
- 541922 Commercial Photography
- 541930 Translation and Interpretation Services
- 541940 Veterinary Services
- 541990 All Other Professional, Scientific, and Technical Services
Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance
We hope this information on Professional, Scientific, and Technical Services – NAICS Code 54 – For Commercial Insurance has been helpful. Your classification determines how much you pay for your commercial insurance and much more.