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.
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References in periodicals archive ?
"The first thing a business owner should familiarize themselves with is the workers' comp requirements for the state (s) in which they operate.
The Pennsylvania Compensation Ratings Bureau, an independent bureau that helps set workers' comp premiums in the commonwealth, notified the state after it discovered a data error made by a carrier that overstated its 2016 claims.
* The number of new workers' comp cases filed in Illinois is on a steady decline, down 24 percent since 2011.
* Round-trip airfare to the leading event for Workers' Comp professionals -- The Workers' Compensation Educational Conference on Aug.
Voluntary workers' comp rates depend on the experience ratio of about 800 industry classifications.
* What is your organization's top workers' comp concern, and what are you doing to address it?
Businesses that fail to maintain workers' comp coverage and/or pay compensation face substantial civil and criminal penalties.
Workers' comp goes through cycles of stability and upheaval and then returns to stability, or possibly, inertia.
Workers' Comp Executive, published by Providence Publications, uncovered misconduct involving in the California State Compensation Insurance Fund.
"While the decrease is moderate, we are pleased to announce that the state's overall workers' comp rates continue to decline, with a very few industry lines showing slight increases," said State Insurance Commissioner Julie Benafield Bowman in a news release.
In the fight to control workers' comp costs, the $40 billion Albertsons grocery chain works on two fronts, says CEO Larry Johnston: "The development of a safety culture inside the company, and working with health care providers to manage costs to the greatest extent possible."
Bill Owens when he nixed a bill that builders say unfairly required independent contractors to carry workers' comp insurance.

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