It doesn't completely replace workers compensation but it does provide a limited safety net
that provides 85 per cent of lost weekly wages, death and disability insurance of up to $100,000 and rehabilitation expenses up to $300,000.
The income provided by welfare benefits is a limited safety net
for those who have little choice about the situation they find themselves in, it is not a feather bed being 'chosen' by people who have simply decided to opt-out of work.
It was designed to provide a limited safety net
for personal insurance consumers who could suffer Financial ruin if their auto or homeowner claims were not paid.
The measure of distance to safety net providers is limited in that it is not a measure of overall safety net capacity and does not directly distinguish between uninsured people living close to a relatively limited safety net
versus those living close to an extensive safety net with multiple providers, nor does it directly measure differences in travel times.
On the editorial page of The Wall Street Journal, Irving Kristol recently posited a dichotomy between the good "masculine" welfare state (a limited safety net
for the needy and the down-on-their-luck) and the bad "feminine-maternalistic" kind (an ever-expanding blob of indiscriminate "compassion" toward anyone who claims to be suffering).
Bank regulatory policy promoted privatization, financial liberalization, free entry, and limited safety net
support, and it established a novel mix of regulatory and market discipline to ensure stable growth of the banking system during the liberalization process.
So long as we have a limited safety net
for banking institutions, there will inevitably be some disparities in the competitive environment for financial institutions.
It can't completely replace workers compensation but it does provide members with a limited safety net
that provides 85% of lost weekly wages, death and disability insurance up to $100,000 and rehabilitation expenses.