Workers' Compensation

(redirected from Workman's Compensation)
Also found in: Dictionary, 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.
References in periodicals archive ?
For every dollar of insured costs, $150 accumulates in uninsured costs, Travnick said, but added that the heavy cost of workman's compensation can be mitigated by employee safety rules involvement and accountability, management involvement and taking effective actions that limit losses.
We exchanged views on the current workman's compensation markets and recommended methodologies for risk managers to cope with them.
The other two new tenants include National Risk Management, which analyzes workman's compensation programs for companies, and Global Fiber, a trading company involved in waste paper and pulp.
Allegedly, Stakely let it be known throughout the community he served, that for anyone who brought in a claim of being injured on the job, he would make sure there was a Workman's Compensation award from which both he and the patient would prosper -- a violation of Business and Professions Code section 2261 which pertains to false representations.
Galbreath has built and/or manages over 11 million square feet of government properties, among them the one-million-square-foot Ohio Bureau of Workman's Compensation building in Columbus, and the 250,000-square-foot City of Columbus Safety Building, which houses all of the city's law enforcement agencies.
A Workman's compensation transaction that accepts proprietary
LM Capital Group LLC, a leading San Diego-based fixed income investment manager for institutional clients, today announced that it has received an additional $50 million from the Ohio Bureau of Workman's Compensation, bringing the total invested in its Active Core fixed income strategy to $127 million.