2006-06-16 11:41:15 · 10 answers · asked by how does clouds create 1 in Business & Finance ➔ Insurance
It is compensation paid to injured workers.
2006-06-16 12:20:56 · answer #1 · answered by tropicaldazed 6 · 1⤊ 0⤋
Worker's compensation is medical insurance paid for by your employer in case an employee gets injured on the job. This insurance pays for the injured worker's medical care, a percentage of time lost from work and, if necessary, job retraining. State laws vary greatly as to the percentage of compensation one can receive.
2006-06-17 11:00:48 · answer #2 · answered by cgspitfire 6 · 0⤊ 0⤋
"Workers' compensation systems (also known as workers' comp in North American English or compo in Australian English) provide for financial compensation for work-related injuries of employees, in particular compensation of loss of wages, sometimes also for medical costs. These laws are usually a feature of highly developed industrial societies. Employees' compensation laws are often only implemented after long and hard fought struggles by trade unions, particularly in early industrialisation. There are often benefits available to dependents of workers killed on the job as well.
Employees' compensation laws were first enacted in Europe and Oceania, with the United States following shortly thereafter. Workers' compensation programs were a key component of the labor structure of the former Soviet Union and similar societies."
2006-06-16 18:49:22 · answer #3 · answered by zphtar 3 · 0⤊ 0⤋
Payments required by law to be made to an employee who is injured or disabled in connection with work.
compensation for injury to an employee arising out of and in the course of employment that is paid to the worker or dependents by an employer whose strict liability for such compensation is established by statute
2006-06-16 18:48:19 · answer #4 · answered by A Sorta Fairytale 6 · 0⤊ 0⤋
Workers compensation is insurance that covers you if you are injured on the job or a job related duty.
2006-06-16 18:45:03 · answer #5 · answered by ☼Jims Brain☼ 6 · 0⤊ 0⤋
It is provided by the company where you work and protects you should you have an accident on the job. There are strict guidelines so it would help to read up on the subject.
2006-06-16 18:47:01 · answer #6 · answered by Mary G 1 · 0⤊ 0⤋
Workers comp is when you get hurt on the job and you get paid while you are recovering.
If you chose to go out on workmans comp. the company you work for will usally try to send you to their doctor.
I you go out on w/c, be sure you are really hurt.
2006-06-16 18:50:17 · answer #7 · answered by demolition333man 1 · 0⤊ 0⤋
it is insurance that your employer pays for, and in the event that you get hurt on the job, that insurance company will pay you a percentage of your regular salary, until you are able to go back to work.
2006-06-16 19:17:51 · answer #8 · answered by sioux m 2 · 0⤊ 0⤋
Workman's comp is when you get hurt on the job and get paid for lost time.
2006-06-16 18:44:12 · answer #9 · answered by Dave 2 · 0⤊ 0⤋
AFLAC (in USA)
PS. What state do you live in?
2006-06-16 19:03:28 · answer #10 · answered by Peter in La Jolla San Diego CA 4 · 0⤊ 0⤋