Workers compensation is a type of insurance that pays a portion of the worker's salary and medical care when an injury occurs while working. This compensation is given in exchange for relinquishing the worker's right to sue their employer for negligence.
Workers comp was established many years ago as a benefit-type system that safeguards any worker hurt or injured while on the job. The Department of Labor and Industrial Relations and the Division of Workers Compensation administers the day-to-day operation of the system.
If you own a business, particularly in manufacturing or shipping, you may one day have to deal with workers' compensation. You might find it a good idea to familiarize yourself with key terms used in many workers' compensation cases.
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Some states require you to buy coverage through state-operated funds, while others allow you to buy either from state funds or from independent operators. Workers' comp rates are rising faster than those for any other insurance coverage, but there are ways to keep your costs down:
Would you like to find out more about Workers' Compensation? Commonly called workers' comp in North America, this is an insurance program in which workers pay into a fund so that if they are injured on the job wages are replaced and medical bills are paid. This agreement generally relieves employers of legal action, however in some cases of negligence legal action may be taken. Despite the common mischaracterizations, workers' comp is actually paid into by workers and is no different in theory than any other type of insurance. It was first introduced in Europe and Oceania, and it the United States implemented workers' comp shortly after.
If you are interested in workers' comp, you have quite a few resources available. This program can vary from one state or province to another, and not every rule applies in every area. Generally there are offices designated to determine these sorts of cases, they can assist in finding a doctor which will determine the extent of any injury, and the compensation office will usually begin compensation according to the doctor's determination of when the individual will be able to work again.
It is important to do your research if you feel you are eligible for workers' comp. Business.com has links to sites which may be useful.
Browse the links to the left for more on Workers' Compensation.
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