SIC Codes - Standard Industrial Classification (SIC) Codes

What is a SIC Code ?

Standard Industrial Classification (SIC) codes are four digit numerical codes assigned by the U.S. government to business establishments to identify the primary business of the establishment. The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code. Established in the United States in 1937, it is used by government agencies to classify industry areas. The classification was developed to facilitate the collection, presentation and analysis of data; and to promote uniformity and comparability in the presentation of statistical data collected by various agencies of the federal government, state agencies and private organizations. The classification covers all economic activities.

The SIC system arrays the economy into 11 divisions, that are divided into 83 2-digit major groups, that are further subdivided into 416 3-digit industry groups, and finally disaggregated into 1,005 4-digit industries. In the United States the SIC code is being supplanted by the six-digit North American Industry Classification System (NAICS code), which was released in 1997; however certain government departments and agencies, such as the U.S. Securities and Exchange Commission (SEC), still use the SIC codes.

The SIC system is also used by agencies in other countries, e.g., by the United Kingdom's Companies House.

SIC Code Title
64 Insurance Agents, Brokers and Service
6411 Insurance Agents, Brokers, and Service
641100 Insurance agents, brokers, and service
64110000 Insurance agents, brokers, and service
641101 Insurance information and consulting services
64110100 Insurance information and consulting services
64110101 Advisory services, insurance
64110102 Education services, insurance
64110103 Information bureaus, insurance
64110104 Pension and retirement plan consultants
64110105 Policyholders' consulting service
641102 Insurance adjusters
64110200 Insurance adjusters
64110201 Insurance claim adjusters, not employed by insurance company
641103 Insurance agents and brokers
64110300 Insurance agents and brokers
64110301 Insurance agents, nec
64110302 Insurance brokers, nec
64110303 Life insurance agents
64110304 Real estate insurance agents
64110305 Property and casualty insurance agent
64110306 Title insurance agents
641199 Insurance agents, brokers, and service, nec
64119901 Fire loss appraisal
64119902 Fire Insurance Underwriters' Laboratories
64119903 Inspection and investigation services, insurance
64119904 Insurance claim processing, except medical
64119905 Loss prevention services, insurance
64119906 Medical insurance claim processing, contract or fee basis
64119907 Patrol services, insurance
64119908 Professional standards services, insurance
64119909 Ratemaking organizations, insurance
64119910 Reporting services, insurance
64119911 Research services, insurance
 

What are SIC Codes used for?

  • The Security and Exchange Commission (SEC) uses SIC codes when sorting company filings.
  • Companies that operate in a certain industry use a specific SIC code when filing with the SEC so that the type of business is properly identified.
  • Identifying government contracts by their SIC description.
  • To facilitate the collection, presentation, and analysis of data.
  • To promote uniformity and comparability in the presentation of statistical data collected by various agencies of the federal government, state agencies, and private organizations.

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Why are SIC Codes important?

  • Your SIC code is often asked for on various applications and forms.
  • SIC Codes organize industries utilizing a numerical system that defines a business according to its highest revenue source at a particular location.
  • SIC Codes allow the gathering and analysis of data quickly and efficiently.
  • By identifying your company’s SIC Code, eligibility for government contracts may be realized.
  • To identify competitors, public and private.

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How to Read a SIC Code ?

For Example :

Division 20-39 Manufacturing
Major Group 25 Furniture and Fixtures
Industry Group 25 Office Furniture
Industry 2521 Wood Office Furniture

The first two digits of the code identify the major industry group, the third digit identifies the industry group and the fourth digit identifies the industry.

( Note: The digit "9" is used in the third or fourth digit position of the classification code to designate miscellaneous industries not elsewhere classified (NEC). These miscellaneous classifications are not comprised of homogeneous primary activity groups. They are grouped together and treated as a separate industry in order to retain the homogeneity of the other industries in the group. )