Workers' Compensation

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Workers' Compensation

Insurance that pays for an employee's medical care in the event that he/she is injured at work. Workers' comp may also provide for lost wages and compensate for disability or reduced earning potential. In exchange for receiving workers' comp, the employee surrenders the right to sue the employer for negligence. Workers' comp is mandatory in many jurisdictions and employee paychecks are reduced by the amount of the premium.
References in periodicals archive ?
Mike Hoffmann, Chief Underwriting Officer, Bermuda & International Insurance, added, "We continually review our product offerings and are delighted to expand our capabilities by providing employers' liability cover.
Those historic insurers whose employers' liability policies had a similar wording to that in the Bolton case should now fund the claims they have declined since 2006, and all future claims.
Employers' liability insurance covers the cost of compensation and legal costs if an employee is injured at work or becomes ill as a result of their work.
The research also shows that 21 per cent do not understand what employers' liability insurance covers.
Employers' liability insurance is already a sensitive area.
Employers' liability cover is taken out by firms to insure them against their staff being injured or contracting industrial diseases at work.
Minister for Work Nick Brown said, ``We recognise that many businesses were hit hard by employers' liability insurance premium increases last year and the Government is committed to improving the outlook in difficult market conditions.
I will attempt in the following to briefly address some of the state exemptions to workers' compensation laws that should be included within the scope of the laws and/ or afforded insurance coverage by endorse ment to the standard workers' compensation and employers' liability policy:
com/) has reminded UK businesses of their legal obligations in light of a raft of new employers' liability insurance measures.
BOSSES are being warned about an important change regarding Employers' Liability Insurance.
An ELIB would plug the black holes in records of employers' liability insurance, into which an estimated 5% to 10% of asbestos-related disease claims currently fall.

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