Workers' Compensation

(redirected from Workers compensation)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
monopolistic states impose caps on workers compensation coverage
Workers compensation insurers and TPAs, increasingly driven by sophisticated self-insured and large-deductible national accounts demanding the highest levels of cost performance and innovation, need to ask themselves several key questions:
Our experience shows that the frequency of losses in workers compensation involve sprains, strains, cuts, contusions, and abrasions to fingers, toes, feet, ankles, arms and legs.
It states, "If the employer named in Item 1 of the information page is a joint venture, and if you are one of its members, you are insured, but only in your capacity as an employer of the joint venture's employees." The workers compensation policy makes no mention of business arrangements such as joint ventures, but, joint ventures can, of course, be employers.
From 2015 through 2018, workers compensation insurance in the U.S.
Establishment of the workers compensation system did not relieve employers of their duty to provide employees with a safe workplace.
There is perhaps no other type of insurance that uniformly affects the American population as much as workers compensation. Human resource professionals, who often are charged with managing a program that a financial officer negotiated, need to be well versed on premium, experience rating, financial plans and cost management.
Proposed changes to workers' compensation, put forward in the State Government's Workers Compensation Scheme Issues Paper, paint a dire picture for injured nurses relying on workers' compensation for survival.
The workers compensation system represents a compromise between employers and employees.
California Commission on Health and Safety and Workers Compensation Fact Sheet.
While no two states' workers compensation laws are identical, the objective is the same: to provide "no fault" benefits to employees injured on the job.

Full browser ?