All Other Insurance Related Activities
Providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third party administration). Insurance advisory services, insurance actuarial services, and insurance ratemaking services are included.
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What is SBA Size Standard?
The maximum annual revenue a business can have to qualify as a "small business" for federal contracting and SBA loan programs.
Example Companies
- ●Verisk Analytics- Insurance analytics
- ●Lemonade- Insurtech
- ●Hippo Insurance- Digital insurance
This Code is NOT For...
NAICS 524298 does not cover the following activities. Use the correct code instead:
Providing actuarial consulting services
Acting as agents (i.e., brokers) in selling annuities and insurance policies
Insurance claims adjusting
Providing pharmacy benefit management services and other third party administration services of insurance and pension funds
Frequently Asked Questions
Yes. Most businesses operate under several NAICS codes. Your primary code should reflect your main source of revenue. You can list secondary codes for other business activities when registering with government agencies or applying for contracts.
Choose the NAICS code that represents your largest revenue source as your primary code. You can add secondary codes for other activities. For example, a restaurant that also offers catering would use Full-Service Restaurants as the primary code and Caterers as a secondary code.
NAICS codes do not directly determine your tax obligations. However, certain tax credits, deductions, and industry-specific regulations may reference NAICS codes to determine eligibility. Your actual tax liability depends on your business structure and activities, not your classification code.
No. The NAICS code on your EIN application is for statistical purposes only. You can update it if your business activities change. The IRS uses this information for economic analysis, not for determining your tax treatment.
You can update your NAICS code when filing your next business tax return or by contacting the IRS. For government contracts, update your code in SAM.gov. There is no penalty for changing codes as your business evolves or if you selected the wrong code initially.