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 ?
States for the most part stopped applying severe price controls on workers' comp insurance premiums.
Sometimes, workers' comp cases are more burdensome to providers; where that occurs, an additional payment amount should be added.
If (and when) these legislative measures fail some of the legislatures or the courts may conclude that a stronger measure must be taken, namely to allow bad faith tort claims to be filed outside of the workers' comp administrative system.
The cost of healthcare greatly influences workers' comp costs, Fitch notes, and those cost factors "tend to expand at a higher rate than general inflation.
I am waiting for conservatives to discover that workers' comp represents everything they loathe about public mandates.
As the major property owners on many residential construction jobs, builders were also potentially liable to be hit with hefty $500-per-incident-per-day penalties for any independent contractor not carrying workers' comp insurance, says Nanfelt.
The bill addresses such issues as rising medical and disability costs, subjective standards and excessive litigation, all of which have contributed to increased workers' comp costs.
Thus, the new state law has created a chain reaction that requires all sole proprietors in the construction industry to form a corporation or LLC in order to continue to be exempt from workers' comp.
The Judiciary Committee is scheduled to hear three more bills regarding workers' comp on Monday.
The state of Wisconsin was not only the first to enact a workers' comp law, but also the first to put a workers' comp agency on the Web.
So first you should review in detail the structure, management and results of your workers' comp program before deciding if you want to improve your internal workers' comp management or seek the help of one or more vendors.

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