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 ?
Based in Baton Rouge, Louisiana, LUBA Workers' Comp currently covers businesses in Louisiana, Mississippi, and Arkansas through select, independent insurance agencies.
The majority report recommends the state create a database to track workers' comp medical costs.
Added to the improving state of workers' comp, premium volume has grown benefiting from rising rates and increased insured exposure gains due to the "modestly improving economic and employment conditions.
A lesson from the past is that major socio-economic turning points have an effect on workers' comp.
6 percent reduction in workers' comp accidents in 2004, "and we expect savings over the next several years as a result of those improvements," he says.
Schwarzenegger took office, workers' comp reform was a key part of his agenda.
While the workers' comp laws are beneficial to employees since they provide medical benefits and disability income payments if employees are injured on the job, the premiums for workers' compensation insurance in the construction industry have become so high that many sole proprietors are unable to pay them.
Alvin Simes, D-West Helena, increases the maximum fee attorneys handling workers' comp cases can receive from from 10 percent to 20 percent.
Fast-forward to the close of the century: by the late 1980s and early 1990s, workers' comp reform in the United States began to take hold, piece by piece, state by state.
The workers' comp tab for such upper-extremity injuries totaled $2 billion in 1993, according to CTD News, a Haverford, Pa.
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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